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From Matthias Knab, Opalesque Europe: Sydney-based hedge fund veterans Damien Hatfield and Daniel Liptak are going separate ways. Hatfield Liptak Advisors represented a number of funds in Australia and also published HLA Australian Hedge Newsletter with insights and intelligence on the Australian institutional and hedge fund market. Damien Hatfield continues his operation as Hatfield Advisors (www.hatfieldadvisors.com).

Meanwhile, according to Australian Fund Monitors Pty Ltd., indications based on early results from Australia's Absolute Return and Hedge funds are pointing to returns of over +3% for May.

Although only 16% of single managers' results are in as of June 8th, there have been some encouraging signs with both equity and non equity based funds performing well above the ASX 200 benchmark.  On a 12 month basis this takes losses to under 10% based on the average of all funds in Australian Fund Monitors' index, against -30% for the ASX200, whilst just over 30% of funds have produced a positive return.

Although early days, there are some encouraging performances being reported with both of Commodity Strategies' funds up over 10% for the month, Argus Capital Management +7.63%, MM&E's Takeover Target fund up 3.82% (+7.13% YTD), St Helens' Arran long/short fund +3.39% (+17.32% YTD) and Macquarie's MQ Special Events fund +9.23%.......................

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