Forbes – Long-only hedge fund strategies posted the best returns of the asset class in July as global stock markets continued their upward trend, according to data in a report published by Lipper Global on Tuesday.

As the industry looks to repair itself following last year’s heavy losses and record redemptions, these new figures will give more ammunition to market watchers who claim that the industry is on the road to recovery.

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The Olympian – Asian stock markets turned in a mixed performance Friday, but most recoiled from their lows despite a grim profit forecast from Toyota and sluggish U.S. economic data. European markets opened higher.

Many of Asia’s bourses showed surprising resilience – notably in Hong Kong, South Korea and Singapore – given the overnight drop on Wall Street, as lower-priced shares attracted buyers and lending markets showed more signs of mending.

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