It was a banner year for hedge funds that bet on and against stocks. For the year through November, stock picking hedge funds posted their best performance relative to the total-return of the S&P 500 since 2010, according to data provider HFR, earning 11.9%. Hedge funds also benefited from the increased trading of individual investors who created more volatility in stock prices and, thus, opportunities for profit. The firm, which also manages private-equity funds, had $48 billion in assets at the end of November. This year Moderna developed a Covid-19 vaccine that was approved for U.S. use; its shares have soared 680% through November.

Source: Mint December 27, 2020 18:33 UTC