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Blue-chip managed futures hedge funds suffer steep May falls

Hedge funds posted worst monthly performance in a year last month – among worst hit were those that use computer algorithms to follow market trends, amid reversals in commodities market

Some of the biggest names in managed futures, a hedge fund strategy that uses complex computer algorithms to capture trends in global markets, have been left nursing losses last month, after sharp reversals across the world’s major commodities and currencies markets led to the wider hedge fund industry posting its worst monthly performance in a year.

The HFRX Global Hedge Fund Index, which tracks about 250 funds and can be seen as a proxy for industry performance, fell 1.39% last month, its worst single month performance since the Greek sovereign debt crisis in May last year.

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