While most hedge funds are having their worst year, Monaco-based Knight Vinke Asset Management may be having its best.

The activist hedge fund said it expects that 2008 will be “a record.”

“We’ve seen a 600% increase since 2007,” Glen Suarez, who leads Knight Vinke’s activist campaign against HSBC, told The Independent of its assets under management. “This is likely to be a record year for us.”