Performance

Convertible arb: Logging solid gains

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The second best performing strategy in May was convertible and equity arbitrage, which rose a median 1.27% to total 5.78% for the year, according to research from Absolute Return. That's good news for a strategy that lost ground in 2005 - clocking a 2.22% drop for the year - and that trailed all other strategies

during April. Big winners for the month include Lydian Overseas Partners, which gained 1.82% and is up 9.27% for the year; Louis Hanover's Marathon Global Convertible Fund, which rose 1.87% to total 7.1% YTD; and Howard Fischer's Basso Investors, which climbed 1.98% in