The credit crisis continues to hit the $2 trillion hedge fund industry hard (see related story, page one). More funds have left the industry, and fewer have entered, over the past six months than collectively last year.

In April and May it seemed the hedge fund market was rebounding as it experienced gains of 1.2% and 2.11% respectively, according to data from Hedge Fund Research. In June, however, losses returned, with the average hedge fund slipping 0.68%. Through June, the average hedge funds is off 0.75%.

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