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Hedge funds gain 2.42 percent in July

Reuters – Hedge funds posted more gains last month, providing fresh evidence that the $1.4 trillion industry is recovering after last year’s heavy losses and record redemptions.

The average hedge fund gained 2.42 percent in July after having inched up 0.13 percent in June, data released on Friday by performance and flows tracking group Hedge Fund Research show.

On average the funds are up 12.17 percent for the year through July 31, the data show.

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