Equities: A rising tide lifts most

Thu Feb 1, 2007



Looking back on 2006, investors must decide whether they are sufficiently religious about hedging to accept the fact that U.S. and global long/short equity funds significantly underperformed the broader market indices.

While the S&P 500 enjoyed 11 positive months last year - a record it hasn't matched in decades - long/short equity funds didn't fare as well. Down months in May and June sent many long-biased managers rushing for cover, thus lowering their net exposures so that they didn't benefit as much when the market rallied.

The Absolute...

ISSN: 2151-1845 / CDC10004H

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