The Midway Market Neutral Fund, managed by the $280m fixed income manager The Midway Group, which is based in New York, returned +1.75% in June. The month’s gains brought the fund +22.17% for the first half of 2011. This performance greatly outpaces broader hedge fund strategies such as the Barclay Hedge Fund Index which was down -1.04% in June (+1.04% YTD),