It's official. Hedge funds are back.
Hedge Fund Research Inc (HFRI) and Eurekahedge say their annual reports for 2009 show that hedge funds were up for the 12-month period, with HFRI recording industry returns of 20.04% and Eurekahedge reporting returns of 19.16%. The figures redress the woes of 2008, when hedge funds were down 19% according to HFRI and off 11% according to Eurekahedge. The turnaround began this time last year when hedge funds showed the first positive returns since May 2008.
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