Hedge funds returned a healthy 1%, wrapping up a tumultuous 2008 at -12.3%. Hedge fund assets fell US$380 billion or 20% in 2008, from just under US$1.9 trillion to just over US$1.5 trillion.
Highlights of hedge fund performance and asset flows for the month are as follows:
| December 2008 | US$ billion |
|---|---|
| Allocation (Inflows) | 19.9 |
| Redemption (Outflows) | 86.5 |
| Net Asset Flows | -66.6 |
| Positive Performance (growth) | 30.4 |
| Negative Performance (decline) | 17.6 |
| Total | 12.8 |
| Overall Total | -53.8 |
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