Hedge Funds Event Driven Strategies Outstrip In May 2013

Event driven hedge funds have outperformed other strategies in May 2013, posting net returns of 2.10 percent, bringing the year to date performance to 7.60 percent, according to research house Preqin. Event-driven investing is an investing strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as a bankruptcy, merger, acquisition or spinoff. Data from the firm’s Hedge Fund Spotlight shows that the overall 2013 performance of such funds were above that of long/short funds, which have posted returns of 5.39 percent so far in 2013 and 0.75 percent in May. Hedge Funds…