(Cay Compass) Hedge funds overall returned 0.31 percent in May, the fifth consecutive growth month this year. At the same time, the average hedge fund trailed the equity market performance of MSCI Work Index, which was up 1.09 percent during the month.
Last month Japanese hedge funds were leading the way with gains of 1.88 percent, followed by European funds, which generated returns of 0.72 percent. North American hedge fund managers, in contrast, posted losses of 0.33 percent in May, and funds investing in Latin America experienced an even steeper decline of 1.19 percent.