Hedge Funds Post Big Gains in April
|May 7th, 2009||
|Bloomberg reports that hedge funds had their best month since February 2000, posting average gains of 3.8%, according Hedge Fund Research Inc. As of 3/31/09, overall hedge fund assets fell to $1.33 trillion from a June 2008 peak of $1.93 trillion.|
According to the article, Crispin Odey’s Odey European Inc. had its best month in its 17-year history, returning 28%, by betting on “junk shares” of companies like Royal Bank of Scotland Group, Barclays plc and Avis Europe plc. Another winner was Brett Barakett’s Tremblant Capital, which was up 3.8% for the month and 13.5% for the year.
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