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From Kirsten Bischoff, Opalesque New York:

Hedge funds are slowly but surely rebuilding their asset base. Positive July performance was another brick shoring up the industry’s foundation. “If current trends continue, most of last year’s losses will soon be recouped by diversified hedge fund investors who stayed the course,” BarclayHedge founder and President Sol Waksman commented today in a statement.

Recent performance gains may have those that “stayed the course” happy, but it is also serving to pique the interest of investors new to the hedge fund and fund of hedge fund space. Kevin Heller, Managing Director at Bermuda-based Focus Investment Group, recently commented to Opalesque that the firm has been seeing interest from private banks and institutions that had previously allocated directly to hedge funds themselves.

Evidence of wider public investor interest in the hedge fund industry is also noticeable through increases in investment activity in listed funds. Fortress Investment Group closed on Thursday at $5.37 a $0.26 gain for the day and up significantly from its end of year lows of $1. Additionally, trade volume in Fortress has grown as well, as has the trade volume across listed fund of hedge funds, which increased +61% in 2009 (according to Royal Bank of Scotland ......................

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