Bloomberg – Hedge fund assets increased by $10.6 billion in July, rising for a third straight month, as managers trading shares benefited from global stock market gains, according to Eurekahedge Pte.

Net inflows into the industry totaled $2.1 billion, while gains through performance were $8.5 billion, bringing total assets under management to $1.35 trillion, the Singapore-based research firm said in a report posted on its Web site.

Hedge fund managers are making a comeback after suffering their worst year on record in 2008, as stock markets recover amid optimism that stimulus measures will help put an end to the worst of the global economic recession. The MSCI World Index jumped 8.4 percent in July, bringing its year-to-date advance to 14 percent.

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Reuters – World stocks pushed up to 9-month highs on Friday, cutting demand for government bonds as euro zone manufacturing and services reports beat expectations, fuelling optimism about economic recovery.

The euro hit a session high against the dollar and European shares reversed earlier losses to climb for a 10th session running after a better-than-expected German sentiment survey and improved data on the euro zone services and manufacturing sectors.

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Reuters- Activist hedge funds have struck their first victory in France, building on successes in Britain and the Netherlands, where their aggressive tactics have forced several companies to bend to their will.

Centaurus Capital and Pardus Capital Management got their way at French IT services company Atos Origin on Wednesday, with the ouster of chairman Didier Cherpitel and appointment of Jean-Philippe Thierry as chief executive and the creation of a strategy committee.

The hedge funds had been at odds with Atos management for months, culminating in the company adjourning its annual shareholders’ meeting last week to prevent a vote on the funds’ proposals.

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