Hedge Fund Performance Commentary

The Eurekahedge Hedge Fund Index was down 0.71% in May , following four consecutive positive months since the beginning of the year. Hedge fund managers struggled to generate returns amidst the risk-off environment resulting from the re-escalation of the US-China trade war. The Trump administration’s decision to raise tariffs on Chinese imports prompted the other side to launch retaliatory tariffs, leading to worsening global economic outlook which weighed on global equities during the month. The MSCI ACWI (Local) ended the month down 6.12%. On the other hand, the US 10-year treasury yield dipped to its lowest point in almost two years, as investors expect that the Fed will have to cut interest rates in near future. On a year-to-date basis, hedge fund managers are still up 4.32% as of May 2019.

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