The global hedge fund industry turned in one of its best years of performance in close to a decade in 2009, according to industry data, though managers have yet to fully shake off many of the problems of 2008.
The average hedge fund returned 19 per cent to investors in 2009, according to Chicago-based data provider Hedge Fund Research. Other leading hedge fund indices report average returns of between 12 and 18 per cent, after fees.
Some of the industry's largest funds have fared even better, delivering some of their strongest performances. Citadel, the $13bn Chicago hedge fund giant run by Ken Griffin, suffered huge losses in 2008 but has seen its flagship Kensington Global Strategies fund rebound close to 60 per cent this year.
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