Investing June 15, 2001

Tremont Hedge Fund Index Edges up 0.8% in May

June 15, 2001 (PLANSPONSOR.com) - The CSFB/Tremont Hedge Fund Index was up 0.8% for May 2001, up from 0.7% in April, with emerging markets and global macro investing the month's top performing strategies.
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During the month of May:

  • the emerging market category increased by 2.4% in comparison with its 0.5% drop in April
  • global macro increased by 2.1% compared to a 0.7% increase the previous month
  • managed futures were up by 0.8%, up from their 5.5% decline in April.

Year to Date

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Year to date, the CSFB/Tremont Hedge Fund Index increased by 1.5%, with the top performing 2001 investment strategies being:

  • global macro, which increased by 10.3%, is where managers carry long and short positions in the major capital or derivative markets, both emerging and developed
  • convertible arbitrage, which rose 8.4%, is where positions are designed to generate profits from the fixed income security as well as the short sale of the stock
  • Event driven, which increased by 6.3%, is designed to capture price movement generated by anticipated corporate events.

Major Benchmarks

Over the month, the major benchmarks returned as follows:

  • the Dow Jones Industrial average increased by 1.6%, compared with its 8.7% return in April
  • the S&P 500 was up by 0.5%, dropping from 7.7% the previous month
  • the Nasdaq fell by 0.3%, following April’s 15% gain
  • the MSCI EAFE rose 3.8% in US dollar terms after an increase of 6.7%
  • the MSCI World index fell by 1.5% in US dollar terms, compared with a 7.2% increase the previous month.

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