Hedge funds continue to do well, rising 2.4% in July, bringing year-to-date returns to nearly 12%, according to HedgeFund.net. In fact, it’s the best first seven months of the year for hedge funds in a decade.

Fifty-four percent of funds have less than their asset levels of January 2008, down from 64% than did so in December.

The best-performing category is convertible arbitrage hedge funds, up 30%, followed by multi-strategy hedge funds, up 21% this year, according to Hedge Fund Research.

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