Hedge funds advanced for the 6th straight month in December to close 2010 at a high for the year, according to the latest results from the Greenwich Global Hedge Fund Index (GGHFI).
All major Greenwich Hedge Fund strategy groups finished the year higher, with Event-Driven, Directional Trading, and Long-Short Equity managers posting the best returns. The GGHFI advanced 3.07% in December and finished the year with a gain of 10.67%.
December was also a positive month for equity benchmarks - the S&P 500 Total Return (+6.68%), MSCI World Equity (+7.25%), and FTSE 100 (+6.72%) equity indices all ended the month higher. Some 87% of constituent funds in the GGHFI ended the month with gains.
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