Bridging the gap

The regulatory disclaimer on UK authorised funds, that 'the value of your investment may go down as well as up' may have been greeted over the past few years with an upturned eyebrow from long-only investors: 'I didn't know it could go up in the first place.'

The gloom in institutional investors' long-only portfolios should provide glee for hedge fund managers, and the fund of fund managers that usually provide the bridge between single strategy managers and the highly affluent and institutional

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