Ken Griffin’s flagship multi-strategy funds at Citadel, Kensington and Wellington, gained 1 percent in May, putting them up 6.21 percent for the year. May results were driven by fixed income, credit, especially convertible securities, energy and macro plays.
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Alan Howard’s BH Macro fund got off to a rough start this month, losing 2.59 percent through June 7. As a result, the full-year gain was chopped to 4.34 percent. BH Macro is run out of Howard’s London-based hedge fund firm Brevan Howard.
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Jeff Ubben’s San Francisco-based hedge fund firm ValueAct Capital has raised its stake in Willis Group Holdings to 17.9 million shares, or 10.29 percent of the total outstanding, up from a previous stake of 9.5 percent. On June 6, the San Francisco-based activist investor bought 568,400 shares for between $38.90 and $39.04. In a regulatory filing dated April 30, the hedge fund firm also said the insurance broker agreed to nominate Ubben to its board of directors.
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Another data collector has reported results for May. The Hennessee Hedge Fund Index rose 1.79 percent in May, bringing its full-year gain to 7 percent, less than half the 14.34 percent return of the S&P 500. The Hennessee Long/Short Equity Index climbed 2.71 percent in May, lifting it by 8.57 percent for the year.
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DSP Group said that at its annual meeting Monday, two of the four elected directors were nominated by activist hedge fund Starboard Value LP – Norman Rice III and Norman Taffe.
