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Investors Pull Money From Hedge Funds, Despite Performance Gains

Allocations to some hedge funds still aren’t enough to stop the bleeding.

This year’s booming stock market has led hedge fund assets to a new record of $3.25 trillion. But that record — bolstered by hedge funds’ best first half performance since 2009 — obscures the fact that investors aren’t allocating more money to hedge funds. In fact, they’re still pulling their

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