The Preqin All-Strategies Hedge Fund benchmark returned 0.26 per cent in May, marking the seventh consecutive month of positive returns for the industry. Overall, hedge funds have recorded just three months of losses since the start of 2016. Multi-strategy hedge funds posted the highest returns of any leading strategy, at 1.40 per cent, while relative value funds were the only leading strategy to see losses, recording -0.38 per cent for the month. Despite falling slightly, 12-month returns for the industry are at 10.33 per cent, surpassing the expectations for hedge fund performance that investors gave Preqin at the start of the...