Activist Hedge Funds Make A Major Comeback In May

Hedge funds had a decent time in May. During the month, all major strategies showed a positive return except for managed futures. The monthly report from eVestment found that the average return of a hedge fund was 1.23% in May, bringing up average returns for the 5-month period to 2.2%. Activist hedge funds grab highest return since Jan 2013 Of particular note were activist hedge funds, which generated their highest gain since January of last year. The event-driven activist hedge funds followed by eVestment were up 3.92% on average in May, thus managing a 4.5% return YTD. These hedge funds caught a break…