Last Year Best In Three, Emerging Markets Tops

Jan 10 2007 | 10:28am ET

Last year was the best for hedge funds since 2003, according to early estimates for’s indices.

The HFN Hedge Fund Aggregate Average rose 1.36% in December to finish the year up nearly 12%. Though trailing the Standard & Poor’s 500 Index, which rose 13.62% last year, hedge funds have not returned so much on average since 2003, when they rose more than 21%.

Emerging markets were the best performing strategies in 2006, according to HFN, with a 21.72% return on the year after rising 2.84% in December.

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