The RBC Hedge 250 Index had a net return of 3.59 per cent in May, bringing the year-to-date return of the index to 7.01 per cent.

The RBC Hedge 250 Index had a net return of 3.59 per cent in May, bringing the year-to-date return of the index to 7.01 per cent.

These returns are estimated and will be finalized by the middle of next month. The return for April 2009 has been finalized at 3.07 per cent.

Convertible arbitrage returned 9.45 per cent in May, while fixed income arbitrage returned 3.25 per cent and equity long/short 4.28 per cent and credit 3.52 per cent.

Equity market neutral did less well, returning -0.04 per cent in May 2009.

The RBC Hedge 250 Index is an investable benchmark of the performance of the hedge fund industry.

Since its inception on 1 July 2005 through the end of April 2009, the RBC Hedge 250 Index has had an annualized net return of 0.83 per cent.