Hedge funds up 5.77% in May

Hedge funds gained 5.77% in May and 10.75% for the year through May 31, according to research from BarclayHedge. “Equity markets in both developed and emerging countries saw share prices rally in May,” which had positive effects on hedge funds, Waksman, founder and president of BarclayHedge Ltd., said in a statement. All 18 of the firm’s hedge fund indexes had gains for the month, including the Barclay Emerging Markets Index, which posted a 10.72% rise, and the Equity Long Bias Index, which added 6.94%. The firm’s Event Driven Index posted a gain of 5.90%. The Barclay Emerging Markets Index was the leading strategy with a year-to-date return of 20.88%, the report said. “Emerging markets have provided excellent trading opportunities for hedge fund managers, offering double-digit gains in seven of the past 10 years,” Mr. Waksman said in the statement. Of the 2,400 hedge funds that provided data for May, 90% reported gains, he said. BarclayHedge Ltd. of Fairfield, Iowa, tracks more than 6,000 hedge funds, funds of hedge funds and managed-futures programs.