12-month review to May 2021
Equity Long/ Short (“Equity L/S”) funds typically performed very strongly over the 12 months to May 2021, generating an average net return of 23.9%. The strategy posted positive returns in eight out of the 12 months and returns exceeded 2% in seven months. Conversely, negative returns exceeded 1% just once (January 2021). It is worth noting that broad equity market performance was typically even stronger over the period, with global equities† gaining 41.5%. However, the last 12 months were a considerable outlier in recent history for equity markets and Equity L/S funds, following March 2020. For perspective, Equity L/S funds compounded at 6.5% over the last 10 years and the S&P Global BMI at 8.1%.
