Hedge funds are top dogs over investment cycles, says Christophe Lee

Do hedge funds really bring home the bacon consistently?  According to research sourced by Christophe Lee, chief executive of SHK Fund Management and chairman of the Alternative Investment Managers Association (Aima) in Hong Kong, the inference is that hedge funds are the industry's gold medalists over investment cycles or a long-term period. The first chart below shows that global hedge funds as a group, as measured by the HFRI index, have outperformed S&P 500 in the past t…