New York (HedgeCoVest.Com) –The latest numbers show that the average hedge fund moved up 0.72% during the month of May. According to research firm Hedge Fund Research, the gain puts the average hedge fund up 3.89% for the year while the S&P 500 was up 2.37% through the first five months of 2015.

As we saw with the HedgeCoVest composite models, the top performing hedge funds were those that specialized in the healthcare sector. According to Hedge Fund Research, the average healthcare sector hedge fund was up 3.54% for the month of May and is now up 8.5% for the year.

Another point from the report from Hedge Fund Research that lined up with what we saw from the HedgeCoVest composite models was that short-only funds lost ground in May. HFR’s report showed the average short-only fund down 0.5% for the month and down 2.73% for the year. The HedgeCoVest short-only composite models were down an average of 0.05% in the month of May and are down 1.3% for the year.

Rick Pendergraft
Research Analyst
HedgeCoVest