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Finance

Hedge funds' assets under management soar to record

TOKYO -- Hedge funds around the globe are boosting their operations as they continue to attract investors tired of ultralow interest rates and eager for higher returns.

     The balance of assets hedge funds manage jumped 10.5% on the year to an estimated all-time high of $2.1 trillion as of the end of May, according to Eurekahedge, a Singapore-based company that tracks these funds. This marks a sharp recovery from the less than $1.3 trillion yen recorded at one point in 2009 following the global financial crisis that began the previous year.

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