Newsletter May 2019

June 23, 2019

Legends Fund declined -0.95% in May, bringing performance for the year-to-date to 3.65%. This compares to -1.13% and 0.62% respectively for the HFRX Global Hedge Fund Index (euro hedged). While outperforming the markets, Legends Fund’s long biased managers suffered from a strongly negative equity market backdrop, with the MSCI World (eur- hedged) dropping 5.91% in May. Similarly, our energy focused manager got hurt by sharply lower oil prices. Positive results were booked in the global macro strategy, as well as through our market neutral equity managers.

Read the full Performance Update here

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