Hedge funds see best month in 9 years

Date: Friday, June 12, 2009
Author: Financial Times

Hedge funds returned an average 5.2% in May, the best performance in more than nine years, as they drew more money and global markets rallied, said research firm Eurekahedge, reports Bloomberg. The Eurekahedge Hedge Fund Index, tracking more than 2,000 funds, has returned 9.2% this year, according to a preliminary report. The industry recorded net inflows for the first time in 10 months in May, with a $1.5bn gain, while total assets rose by $5bn, it said.