Amici Up Strong In May After Passing of Founder

As the S&P 500 (INDEXSP:.INX) essentially limped along in May, long short hedge fund Amici was up nearly 7% in its Amici Strategy Fund. The strong May is good news for the hedge fund, which struggled after the recent death of strategy founder Alex Porter.

Amici “friends” with benefits from relative value strategy

Porter, who first founded Porter Management in 1976, which was later changed to Porter Orlin before becoming Amici, passed on April 18, 2014.  Amici translates to “friends” in Latin and it refers to the initial few investors he found among his friends.  The...