Short bias: Opportunity knocks


With the market taking most long-biased equity funds out to the woodshed in May, one might assume that short-biased funds would be riding high, and some were. But being short certain stocks and sectors was by no means a blockbuster strategy. Winners included Ursa offshore fund, which rose 3.6%* in May, with that gain lifting the fund up to 0.01%* for the year. The small but nimble Cilantro fund rose 4.2%, putting it up 7.21% YTD. Elysium Wealth Management's long-term free-fall abated momentarily, as the firm's dedicated short bias drove its CEO Fund and CEO Plus funds up