Hedge fund performance as a whole has come under pressure since the financial crisis, but strategy selection is important. This chart shows hedge funds by style, global equities, and global bonds, ranked top to bottom by performance since 2010. The market rebound in 2020 resulted in strong performance global equity and bonds, however long/short funds were able to find opportunities investing long in stocks that were resilient during the pandemic and having the flexibility to short stocks with unfavorable outlooks. Additionally, as volatility and dispersion remain elevated, hedge funds should outperform, as both provide them with opportunities to capture alpha.