Economic Times – Hedge funds, private partnerships catering to wealthy investors and institutions, rose 9.2% on average in ’05, lifted by a stock-market rally during the second half, according to Hedge Fund Research.
The returns were slightly ahead of the 9% gain in ’04 and trailed the 19.6% advance of ’03, the Chicago-based research firm reported.
Hedge funds got off to a slow start last year, rising 1.9% in the first half, and the $1.1 trillion industry encountered scrutiny as the US Securities and Exchange Commission called for greater disclosure and funds including Bayou Management were accused of fraud.
