Hedge funds initially weathered the storm caused by the coronavirus pandemic, with many funds only falling slightly while markets crashed. But equity and bond markets have bounced back thanks to aggressive monetary and fiscal policies, and through the first half of the year the average hedge fund had lost more money than the S&P 500, according to Hedge Fund Research. Launches were at their lowest levels since the financial crisis as well, but those in the $3 trillion space say the immediate future is the best opportunity set in over a decade.