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Event driven hedge funds out in front in May

Event driven hedge funds out in front in May


The Lyxor Hedge Fund Index was up 0.84 in May, with six out of 10 Lyxor indices ending the month with a positive performance. The more directional strategies had the best returns.

Event-Driven Strategies led the pack, as they benefited from an acceleration of M&A activity and the completion of large merger deals. Special Situations (+2.5%) outperformed Merger Arbitrage (+1.4%).

Global Macro managers are back in the green thanks to the strengthening US dollar and their fixed income portfolio.

“The performance of Event-Driven strategies picked up in May after having experienced difficult quarters,” says Philippe Ferreira (pictured), senior cross-asset strategist at Lyxor AM. “The strategy recently benefited from the completion of large deals and the tightening of deal spreads. Managers have also adopted a dynamic approach to manage risks, moving away from longer dated soft situations and skewing their portfolio towards hard catalyst M&A situations.”

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