Buoyed by strong performance in the first half of the year averaging 9%, hedge funds’ assets under management rose by $142.5 billion, for a total of $1.43 trillion under management, Hedge Fund Research reported Tuesday.

Still, assets are 26% less than the $1.93 trillion they reached in mid 2008, just before investors began running for the exits after Lehman Brothers went bankrupt in September 2008. In the fourth quarter of 2008, investors withdrew $152 billion from hedge funds.

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