Tradition lifts Hedge Funds

(FT.com): Hedge funds have made the best start to a year in a decade as markets recover and the industry moves back to traditional investment strategies. The average hedge fund has had its best first seven months since 1999, according to the HFN aggregate index of hedge funds, which has risen 12.14 per cent in the year to date. The Credit Suisse/Tremont index of the hedge fund universe, which will report its July numbers this month, is expected to be up 9.7 per cent for the seven-month period. Several of the world’s biggest funds have reported stellar returns over the past seven months – including many of those that had a particularly difficult 2008.

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