Hedge Funds Fell 4.9% in 2011 as Europe Debt Crisis Hurt Stocks
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Hedge funds fell 4.9 percent last year as global stock markets slumped amid fears that the European sovereign-debt crisis would spread and managers struggled with increased market volatility.
The Bloomberg aggregate hedge-fund index dropped 0.9 percent in December, with long-short equity and multistrategy funds falling. Macro funds, which bet on global economic trends, rose last month and declined in 2011.