Funds of Hedge Funds Performance

Gems Recovery rebounds in style


Recovery is the major theme of 2009. And in 2009, the Gems Recovery Portfolio, which was launched in January 2002, was up 9.6% for the year to date, with gains of 1.75% in August alone. July was the $734 million fund's best month so far this year, up 3.31%.

The Recovery Portfolio, which focuses on credit-related hedge fund strategies, has had a compound annual return of 10.23% and 78.26% positive months since inception. Although the fund currently has 30% of its assets in cash, 21.67% of the portfolio is invested in distressed long-biased funds and 19.17% in distressed