Better the devil you know...

World stockmarkets remain volatile led by a shaky technology sector. And many of the hedge funds that have recently prospered in this climate have been shorting TMT stocks.

This is the case for the top performing hedge fund in this month's set of Standard & Poor's data for the market neutral asset class. The $46m Veredus Market Neutral LP is up 65.3% in the past 12 months.

This fund run by Veredus Asset Management based in Louisville, Kentucky has been fortuitously shorting technology stock