Funds made gains of 6% for the first quarter of the year – the strongest since the 2008 financial crisisHedge funds enjoyed soaring profits in the first three months of 2021, following record gains in 2020, as they were able to dodge several high-profile obstacles including the squeeze from retail investors over GameStop shares and the collapse of distressed hedge fund Archegos Capital Management.Funds achieved gains of almost 6% between January and March, according to data from HFM, pushing the annual return of the funds tracked in its global index above 30%, one of the strongest performances on record.