Hedge funds posted positive returns over 2002, rising on average 3.73%, according to the MSCI Hedge Fund Composite Index.
The index recorded an average gain of 1.18% for the month of December return for the MSCI World Equity Index, compared with a -4.95% December, and -21.06% annual return.
Negative performance was recorded in the MSCI Hedge Fund Equity Index, which consists of hedge funds focusing on equities. It declined -0.21% in 2002, although it has gained an annualised 5.44% over the past
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