Hedge funds posted reported a modest gain in May with the HFRX Global Hedge Fund Index gaining +0.24% (+2.34% YTD) and the HFRX Absolute Return Index gaining +0.32% for the period (+1.28% YTD), said data provider Hedge Fund Research.

Most hedge fund strategies fared well last month, HFR added. The HFRX Event Driven Index posted a gain of +0.93% from gains in s