Tough market conditions continued to dog hedge funds in May, with most hedge fund strategies finishing just about flat after a late-month rally offset earlier losses in the month, according to preliminary data from the Absolute Return database.
The S&P 500 gained 3.00% in May, following the rally in the third week of May, which also boosted many hedge funds. The Core Fund LP finished the month with a 3.00% gain, bringing its 2005 total to a negative 3.81%. The QLS Market Neutral Fund returned 1.43% in May, boosting its 2005 total to 4.57%.
The event-driven strategy finished May mostly