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Finally, hedge funds had a good month! According to Eurekahedge reports, May is the “best month in nine years.”  The Singapore-based data provider’s Eurekahedge showed that Hedge Fund Index rose 5.2% last month, based on preliminary figures, its best since February of 2000. The index is now up 9.2% on the year. Asian hedge funds were the best performers in May, rising 9%, followed by emerging markets funds a 8.5%, a record for the strategy.  Event-driven funds also did well, with a 7.2% return in May, as did long/short equity, which jumped 6.7%. There is more good news for hedge funds. According to Eureka, hedge funds actually received new money in May, the first time in 10 months that the industry has seen a net inflow.  Total $3.2 billion came into the industry last month against $1.7 billion in redemptions.