Market conditions in May proved troublesome for many long/short equity funds, which posted an aggregate negative return for the second month in a row, while the S&P 500 finished with a gain of 1.21%. The Nasdaq was up 3.47%, providing a boost to tech hedge funds.
Andreas Halvorsen's Viking posted a loss for the month of May, down a fraction at 0.4%. That brings its gross year-to-date total to about 9.5%. Lee Ainslie's Maverick fund also fell, with the Maverick Fund Ltd down 1.43% for the month, bringing its year-to-date total to 5.82%. But other Tiger Cubs had