Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, rose 2.2% in the first quarter, with positive performance in each month.

And the industry had $10.1 billion of inflows, bringing total assets to $1.8 trillion. If this pace of inflows continues, hedge funds will see double the amount of inflows this year than they did in 2010.

The most popular strategies were global macro, gaining $3.3 billion, followed by fixed income arbitrage ($2.9 billion) and managed futures ($2.8 billion).

Hedge funds with more than $500 million in assets under management dominated asset raising in the first quarter, with more than $12.0 billion of inflows, while smaller funds had outflows.

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