News Digest:

Hedge fund returns remained largely flat during the month of May with both Citco and PivotalPath reporting minuscule overall returns. In fact, close to half of the funds that they administer generated positive returns.

While the Citco funds generated an overall weighted average return of 0.4% bringing the year-to-date return to 6.02%, PivotalPath Composite returned 0.2% for an year-to-date return of just 2%, according to a recent report.

Takeaway:

Only 48% of the Citco-administered funds generated positive returns in May, representing a steep decline from the 65% that were green during April. For PivotalPath, 55% of the funds gave positive returns with 67% were positive on a year-to-date basis. The rate of return spread for Citco funds also widened in May shifting from 6.7% in April to 8.6% in May.

End Notes

Source: https://www.forbes.com/sites/jacobwolinsky/2023/06/20/hedge-fund-returns-essentially-flat-as-only-half-were-in-the-green-for-may/?sh=15f1a7332e6a