Indian hedge funds beat Asian, EM peers; provide 6.6% returns in May

Provide 6.6% returns in May; rebound comes after retreat in April as 2nd wave took hold

Indian hedge funds outperformed their counterparts in other emerging markets (EMs) and in Asia overall with returns that were at least five percentage points higher last month than for funds investing in other markets.

While EM hedge funds were up 1.56 per cent, and Asia-focused funds gained 1.05 per cent, India-focused hedge funds jumped 6.61 per cent, according to a Business Standard analysis of data from global tracker Eurekahedge (part of data provider HFM).

The returns are based on the monthly data of the Eurekahedge India Hedge Fund Index, Eurekahedge Emerging Markets Hedge Fund Index and the Eurekahedge Asian Hedge Fund Index.