With the TOPIX surging in May, a number of hedge funds posted strong gains.
Strategic Evarich was up 20.75% to leave three-month figures at 37.62%. Myojo Riodas Fund was up 15.59% for the month to bring three- month numbers to 37.01%.
Riodas' managers were active during the month adjusting the weight of the fund's top holdings to industries that were late to the rally, including energy-related, machines, overseas-sensitive raw materials, and domestic-demand related service names.
JMBO Fund was up 17.72% for May bringing three-month returns to 33.59% while JK Absolute Return was up 13.8%, bringing three-month figures to 19.86%.