Top 10 hedge funds make $28bn

Investors in the top 10 hedge funds reaped returns of $28bn (£17.2bn) in the second half of last year alone, according to new data.

George Soros, who set up the Quantum fund in 1973, is at the top of the list having returned $35bn to clients, after fees, since inception, the FT reports. He is followed by Paulson & Co which has netted $32.2bn since John Paulson set up the vehicle 1994. This is largely due to his prediction of the sub-prime crisis. Analysis carried out by LCH Investments also revealed the total returns of the hedge funds is $2bn more than the net profits of investment banks Goldman Sachs, JPMorgan, Citigroup, Morgan Stanley, Barclays and HSBC for the same timeframe. Hedge funds have only a few hu...