Hedge funds beat benchmarks in May as tech stocks rally
Stock-picking hedge funds returned 5.35% in May, beating global benchmarks as tech stocks rallied. Goldman Sachs reported that leverage hit a five-year high.
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Stock-picking hedge funds returned 5.35% in May, outperforming the 4.55% gain posted by the MSCI total return index. Traders bought equities at the fastest pace since June 2023 as the S&P 500 marked nine straight weekly gains. The rally was fueled by speculative buying in technology and financials alongside hopes for a peaceful resolution to the war in Iran.
