Hedge funds have reached double digit returns for the first time since 2003, according to preliminary results of multiple HF indices.
The month of December was expected to return a positive 2.0 percent, which would bring the 2006 total between 11 percent and 13 percent, according to The Credit Suisse/Tremont Hedge Fund Index. Emerging-markets hedge funds grew to more than 17 percent in early December, and are expected to finish higher than that. Other small, global funds also saw returns soar – Atticus Capital’s flagship European fund passed 35 percent and Greenlight Capital and Citadel Investment Group surpassed 20 percent.
Half of the six strategies in the Dow Jones Hedge Fund Strategy Benchmark finished in double digits