It has been a strange time for hedge funds these past few years. With the stock market offering strong returns, most investors don't feel the need for the higher fees and higher risk of a hedge fund. Indeed, a total of 904 hedge funds closed up shop and liquidated their funds in 2013, which was the highest such figure since 2009.
Of course, new hedge funds are springing up all the time, but even there the figures are dropping. A total of 1,060 new hedge funds opened last year, but that was the smallest such number since 2010.
In the face of all that churning, the successful hedge funds are still going strong. In fact, the entire hedge fund industry controlled $2.63 billion at the end of last year. That was up 17 percent from the prior year. The strong hedge funds, it seems, are still getting stronger.
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