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Hedge funds soar in ’09, most still in the red

The Boston Globe – Hedge funds are having their best year since 1998, yet most fund managers still are well below their peaks before the market’s meltdown last year, industry analysts said.

Hedge fund assets rose 2.5 percent in July, contributing to a 9.9 percent climb over the first seven months of the year, and the best year-to-date results since 1998, Credit Suisse/Tremont Hedge Fund Index said.

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