Stocks and crypto fuel emerging market hedge fund gains, as assets hit record highs Submitted By Hugh Leask | 04/06/2021 - 3:22pm Hedge funds that trade emerging markets advanced almost 6 per cent in the first four months of the year, with China, India and Middle East specialist managers leading the pack, as gains from regional equities and cryptocurrencies drove profits in early 2021. Emerging market hedge funds - as measured by Hedge Fund Research’s Emerging Markets (Total) Index – surged 5.92 per cent over the four-month period.