The greatest number of hedge funds since 2009 were liquidated last year as changes in the industry continued to take hold. This isn’t to say the industry is suffering. In fact, assets finished the year at a record $2.25 trillion, and $34 billion flowed into hedge funds during the year, according to Chicago-based Hedge Fund Research Inc. But high fees and underperformance relative to the S&P 500 stock index may be taking a toll. In all, 238 funds liquidated in the fourth quarter, 873 for the…