The $3.24 trillion hedge fund industry produced its best one-year performance in a decade, said Hedge Fund Research.

The HFRI Fund Weighted Composite (FWC) index returned 10.4% in the 12 months ended Dec. 31, the highest since 2009 when the index returned 20%.

FWC gained +1.8 percent for December. The December gain increased the Index Value of the HFRI FWC to