Hudson Bay Capital Management has proven that it really is a
Fund to Watch - an honor bestowed by Absolute Return in 2007 in
recognition of the fund's potential. (For this year's Funds to
Watch, see page 28.) In May the multistrategy Hudson Bay Fund
netted 5.56%, bringing its year-to-date return to 14.29%. The
fund's 11% gain in 2008's tumultuous markets gives it an
average net annual return...