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Portfolio > Alternative Investments > Private Equity

Dow Jones: Five of Six Benchmarks Up In May

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NEW YORK (–Five of the six hedge fund strategy benchmarks tracked by the Dow Jones hedge fund indexes showed positive returns for May 2005–a relief from April, when each result was negative.

Only the convertible arbitrage strategy failed to harvest May flowers, posting a loss of 2.5%, which puts it down 9.18% year to date.

Merger arbitrage performed best in May, up 1.06%, or 1.34% year-to-date through the month.

The other strategies (equity long/short (U.S.), equity driven, equity market neutral, and distressed securities) were up, respectively: 0.93%, 0.53%, 0.4% and 0.21% for May.

Equity long/short (U.S.) is still in the red year to date, at negative 2.57%. Equity-driven, equity market neutral, and distressed are all positive year to date: 0.25%, 0.29%, and 0.43% respectively.

For purposes of comparison: the Dow Jones Wilshire 5000 posted a return of 3.79% (float-adjusted) for May. A float-adjusted calculation excludes restricted shares. The full-cap calculation for the Wilshire 5000 is 3.9%. Meanwhile, the Dow Jones corporate bond index was up 2.06% in May, reducing its loss for the year to date to 1.21%.

Contact Bob Keane with questions or comments at: [email protected].


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