Performance

Driehaus success

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With the help of stronger U.S. equity indices in May, the Driehaus Long/Short Advantage posted returns of 7.8% for the month - a very respectable showing for a strategy that has traditionally looked to exploit long opportunities with aggressive growth companies and shorted deep value stocks stuck in the mud.

The portfolio, managed in part by Jeff James, ended the first five months of 2003 with a gain of about 18%, which is much stronger than 9.5% the S&P 500 did over the same period, but was a bit less than the 19.5% racked up on the NASDAQ.

Buoyant