Eureka: Eastern European, Long-Only Funds Tops In 2009

Jan 15 2010 | 1:05pm ET

Hedge funds posted their best year in six in 2009, rising more than 19%, according to Eurekahedge.

The Eurekahedge Hedge Fund Index ended last year up 19.37% after an estimated 1.07% return in December. It’s the index’s best performance since 2003, when it rose more than 21%, and a welcome turnaround from 2008, when the index fell 11%.

Eastern European and Russian hedge funds did best last year, soaring 60.49% (1.23% in December). Long-only absolute return funds also did well amidst the equity market rally, rising 46.85% (3.03%).

Emerging markets funds added 34.18% (1.7%), Latin American funds 26.32% (1.26%), Asian funds 26.13% (2.18%) and North American 23.44% (1.89%).

Japanese hedge fund did worst off all, adding just 6.84% (1.8% in December).

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