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In the week ending 30 December, 2016, coming a bit late to the party, hedge funds have boosted equity exposure to the maximum level in and cut back on short positions to a three-year low amid a blistering post-election rally.

It was pointed out that at the same time hedge fund assets are at an all-time high at $2.97tln and therefore the situation in the industry is not all gloomy. Despite redemption pressures that continued into November, hedge fund assets remain solidly above the USD 3 trillion AUM mark according to another database.

Finnish growth-oriented private equity firm Intera Partners has closed its third fund on EUR 250.

The Hennessee Hedge Fund Index gained +1.21% in November (+4.14% YTD).

In performance, hedge funds as an asset class have doubled their returns to 3.53% through November compared to the same period last year when gains were a more modest 1.73%; hedge fund ETFs posted disappointing performance this year; Argonaut Absolute Return is the worst performing European hedge fund of 2016 and returned -26% up to Dec. 14 this year; and for some of the top-performing hedge funds in Asia in 2016, the key to success lied in commodities-related bonds that dipped in price in Q1.

Among investments, Alden Global reported a stake of 24.8 % in Fred's Inc., and vowed to discuss the $950m Rite Aid deal. Hedge funds also see several ways to profit from school privatization. Palkon Capital's Dr. Shaheen Wirk ......................

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