A positive December closed out a strong year of returns for hedge funds, according to Hedge Fund Research, as passage of U.S. tax reforms added to a generally risk-on environment heading into year-end. HFR’s widely-followed HFRX Global Hedge Fund Index returned +0.73% for the month and +6.0% for the year, its best yearly performance since 2013. Established in 1992, HFR is a global leader in specializing in the indexation and analysis of hedge funds.