For the third straight year, May proved a disaster for hedge funds that specialize in commodities as raw materials from copper to oil fell into bear markets.
Stanford sentenced to 110 years in prison (Fund News)
Allen Stanford was sentenced to 110 years in prison for defrauding customers of $7bn to fund a lavish lifestyle including the purchase of Caribbean property, a fleet of aeroplanes and an international cricket tournament.
Hedge Funds saw outflows of $5bn in April (Headlines)
Hedge funds lost $5.1bn to outflows in April, reversing inflows of $2.8bn in March, as persisting uncertainty in the euro zone affected investors worldwide.
Ex-SNB Head Hildebrand joins BlackRock (Fund News)
Philipp Hildebrand, who resigned as head of the Swiss central bank in January over a currency trade by his wife Kashya, is joining asset management firm BlackRock Inc. as vice chairman.