Perhaps this is why so many hedge fund managers are cozying up to Donald Trump: The hedge fund industry's run under Barack Obama has been terrible.
On Monday, investment analytics firm Hedge Fund Research reported that the private investment firms as a group returned 5.6% in 2016. While that was hedge funds' best showing in three years, it was still only about half as good as the S&P 500, which rose 9.5% last year.
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