The Australian – Global hedge funds made an estimated 9.73 per cent in returns for the year to June 24, according to figures published by data provider Hedge Fund Research.

Individual managers, including Britain’s Henderson Global Investors, have seen funds rise by more than 60 per cent this year. In the wake of these results, the £1.8 billion ($3.68bn) Avon Pension Fund has been advised to stick with its 10 per cent allocation to hedge funds after putting them under review, while the Clwyd Pension Fund said it would keep 5 per cent in funds of hedge funds and is looking for a single-manager hedge fund.

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Reuters – Jailed Bayou hedge fund swindler Samuel Israel pleaded guilty on Monday to jumping bail in an episode in which he faked his own suicide last year in an attempt to avoid going to prison.

Israel’s plea had been delayed several times since August while he underwent medical care. He faces up to 10 years in prison on the bail jumping charge, said Judge Kenneth Karas in U.S. District Court in White Plains, New York.

Israel, 49, was sentenced last April to 20 years for engineering a scam that cheated investors out of about $450 million. The two sentences will run consecutively. Karas scheduled June 24 for the sentencing.

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