May was not a pretty month for many investors as uncertainty from the Eurozone and mixed economic growth data for the U.S. affected market sentiment, and that meant hedge funds also became victims.Data from Bloomberg showed that hedge funds were down an average of 2.9 per cent in May, though the stock market was a lot worse, with the S&P fallng 6.3 per cent last month.
- Whitney Tilson’s T2 Partners: – 13.6 per cent
- Bill Ackman’s Pershing Square: – 7 per cent
- Dan Loeb’s Third Point: – 2.6 per cent
- Paul Singer’s Elliot Management: – 1.4 per cent
Ackman and Loeb were in the spotlight last month as a result of their biggest investments, JC Penney and Yahoo!, respectively, so they probably aren’t too happy now that their poor performance will continue to draw media attention.
Despite the losses in May, most of the above hedge funders are still in the green for the year in terms of performance.
In other news… John Paulson’s Fund Performance Was A Mixed Bag in May
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