Hedge Funds 10%
Hedge Funds Gain 10% in 2010 But Fall Behind S&P 500
Hedge funds gained an average 3.2% in December, bringing the industry's 2010 performance to 10.4%, Hedge Fund Research said.
"Global financial markets ended 2010 with a positive tone, with strength across global equity, commodity and credit markets throughout the month of December," the hedge fund data provider said in a statement.
HFR's findings were in line with those of Hennessee Group LLC, an adviser to hedge-fund investors. Released earlier Friday, the Hennessee Hedge Fund Index advanced 3% in December, boosting last year's gains to 10.2%.
Hedge funds' performance for the month of December and the whole of 2010 lagged behind the broader market, where the Standard & Poor's 500 index rose 6.5% last month and 12.8% for the year. Source