Hedge funds registered $129bn (£79bn) in profits for their clients over a six month period, according to figures published by the Financial Times.

According to data produced by LCH Investments, the ten leading hedge funds made $28bn for their clients in the second half of 2010.

The hedge fund firms should earn a cut of around 20 per cent of those profits, in addition to a 2 per cent charge for funds under management.

It follows a stock market rally and an increase in commodity prices in the second half of 2010.

Nine of the ten leading hedge funds are based in the US, with the exception of Brevan Howard, based in London and Geneva.