Mildly positive year for industry overall as 73% of funds make money.
The Absolute Composite Index rose 6.49%, less than half the gains of the Standard & Poor's 500 and MSCI World indices. Compared to the previous year, 2012 was a significant rebound for hedge funds. In 2011, the median fund actually lost money, dropping 0.79%. In 2012, a slew of big names turned around their losses, including Dan Loeb's Third Point (+21.60%), Jamie Dinan's York Investment (+13.17%) and David Tepper's Palomino