NEW YORK (HedgeWorld.com)–Five of the six hedge fund strategy benchmarks tracked by the Dow Jones hedge fund indexes showed positive returns for May 2005–a relief from April, when each result was negative.
Only the convertible arbitrage strategy failed to harvest May flowers, posting a loss of 2.5%, which puts it down 9.18% year to date.
Merger arbitrage performed best in May, up 1.06%, or 1.34% year-to-date through the month.
The other strategies (equity long/short (U.S.), equity driven, equity market neutral, and distressed securities) were up, respectively: 0.93%, 0.53%, 0.4% and 0.21% for May.