May was another tough month for hedge funds. Amid a troubling macro-economic environment, commodity and equity markets in particular sold off. The global multi-strategy sector was down 0.73%, leaving year-to-date gains at just 1.45%.
Sandalwood Special Credit Opportunities was up 0.02% which left three-month numbers at 0.7%. Within the portfolio, positive returns came from Redwood Domestic Fund and Elliot Associates, King Street Capital and Brigade Leveraged Capital Structures Fund.