Possibly the best hedge fund industry in the world...

Wednesday 10 June 2009 at 06:23

Hedge funds based in New Zealand shrugged off the turmoil that brought the sector to its knees in 2008 and delivered stellar returns to investors at a time when peers in other countries struggled with their worst year on record - and the positive performance continues.

New Zealand hedge funds made 20.4% last year, according to an index of eight funds compiled by the New Zealand Absolute Return Association.