Much like the weather in the UK, May was a wash-out for funds of funds performance with all strategies down for the month bringing the InvestHedge Composite to -0.86%. For the year, the global FoHF industry is still up 1.01%. Global multi-strategy-specific funds of funds did marginally better, down only 0.73% in May and up 1.40% for the year. US equity funds of funds remain the top performer for the year to date, up 3.20%, but were down 0.41% in May.
Fixed income, the other star for the year to date, up 3.08%, was