Hedge Fund 2009 Wrap Up
Hedge Funds up 20% to End 2009 and Gain in December
Hennessee Group reported on Thursday that the average fund gained 24.6 percent, largely matching the broader Standard & Poor's 500 stock market index gains.
In December hedge funds gained 1.25 percent, HFR reported.
For the year, funds who specialized in convertible arbitrage strategies, where managers exploit price discrepancies between corporate and convertible debt and equity, were the biggest winners, gaining 58.4 percent. Funds that bet exclusively that stock prices will fall fell hard, losing 23.5 percent. Also funds that make big bets on interest rates, currencies and stock movements slipped 2.45 percent. Source
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