A positive turn of events

Strategy: event-driven

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Investors are showing renewed interest in event driven hedge funds that aim to profit from the uncertainty surrounding corporate events such as mergers, acquisitions, spinouts and bankruptcies.

More than half the $13.8 billion in new capital allocated to hedge funds in the final quarter of 2009 was invested in event driven strategies, such as merger arbitrage and distressed debt funds, according to Chicago-based Hedge Fund Research.

"Event driven is one of the areas we are focusi

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