Hedge funds found $600 million in new money under their Christmas trees, according to a report from Eurekahedge.
Investors poured $600 million into hedge funds last month. Combined with some $4 billion in performance gains, that made December the eighth-straight month that global hedge fund assets grew.
All told, hedge funds managed $1.48 trillion on New Year’s Eve, Eureakhedge said.
Hedge funds bounced back in a big way last year, with some indices reported gains of nearly 25% after the average hedge fund lost double-digits in 2008.