Source:
BloombergHedge funds returned 1.7 percent in December, rebounding from a November loss and ending 2010 at the highest level in more than two years as global equity markets rallied, according to data compiled by Bloomberg.
The Bloomberg aggregate hedge-fund index rose to 120.34, the highest since August 2008, amid optimism for economic growth. The gauge for the $1.8 trillion industry peaked at 130.38 in July 2007.
The December gain brought last year’s return to 7 percent on average, compared with a 7.4 percent rally in global stocks, as measured by the MSCI World Index, including dividends. Long- short equity funds, whose managers can bet on rising and falling stocks, increased 2 percent last month and 9.3 percent in 2010.
“December was a strong month for hedge funds, fueled by positive economic news,” said Don Steinbrugge, managing partner of Agecroft Partners LLC, a Richmond, Virginia-based consulting firm that advises hedge funds and investors.
Read more:
http://www.bloomberg.com/news/2011-01-07/hedge-funds-returned-1-7-in-december-reach-two-year-peak-on-stock-rally.html
All that running up of commodity prices is beginning to pay off. YEE HAW!