Led By Relative Value Arb., Hedge Funds Jump 3.15% In May

Hedge funds enjoyed a second straight strong month in May, but again failed to match the performance of the equities market, according to new data from Hedge Fund Research.

The HFRX Global Hedge Fund Index rose 3.15% last month, following its 1.61% April return. But as in April, the index failed to match the return of the Standard & Poor’s 500 Index, which added 5.59% last month.