The Barclay Hedge Fund Index gained 0.78% in May, its third successive month of positive performance, according to BarclayHedge.
Year-to-date the index is up by 0.85% and the firm says that recent gains are due to positive economic news, which are giving equities a boost.
Sixteen out of 18 hedge fund indices made gains last month. Its technology index was up 2.74%, distressed securities gained 2.14%, healthcare and biotechnology was up by 2.30% while European equities and equity long bias were up by 1.65% and 1.21% respectively.
However, it was not all good news as the equity short bias index lost 1.54% last month and the global macro index slipped 0.26%.
“Good news on the US economic front helped push the S&P Total Return Index to a 1.80% gain, just shy of its all time high,” said Sol Waksman, founder and president of BarclayHedge.
BarclayHedge is the alternative investment research arm of Barclays and maintains information on 6100 hedge funds.
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