Hedge Funds 10%

Hedge Funds Gain 10% in 2010 But Fall Behind S&P 500

Hedge funds gained 10% last year but, while that is pretty impressive, it could have been a much worse year for the industry.  Fortunately, hedge funds rallied in the end of 2010 to push up returns to 10%.  Still, investors averaged better returns S&P 500 last year.

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

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