Hedge funds just recorded their best five-month performance since the financial crisis.

The Eurekahedge Hedge Fund Index has climbed 12.79 per cent since the end of March – its biggest gain in a five-month period since 2009. The rebound returns the index to positive territory for the year to date. Hedge funds are up 3.74 per cent for the eight months through August, Eurekahedge said in a statement.