PrintA recent WSJ article reported that hedge funds are experiencing their best performance in a decade due, at least in part, to declining competition for market opportunities from proprietary trading by the major banks which have become more conservative. This provides an explanation for a Morningstar report on July 21st that during the second quarter their index of 1,000 hedge funds had posted its best quarterly return at 9.25% since the inception of the index in 2003. The prior best was just 7.40% in 2003.
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