A banner year for hedge funds

CNN Money – It looks like risk is back. The hedge fund industry had a phenomenal 2009, with a return of 18.6%, for its greatest rebound in 15 years, says a report from industry research firm Credit Suisse Tremont.

Even though net asset flows for the year were negative, investors poured in $13.8 billion in new money in the fourth quarter, the largest quarterly inflow since the height of the hedge fund boom, according to Hedge Fund Research, which tracks fund performance.

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