Quantitative risk management controls and those funds that run a deep value philosophy were especially badly hit over 12 months to 31 March
Absolute return fund managers had a difficult 12 months to 31 March, with very few with at least one year’s track record achieving their performance targets over Libor, in part because of inflated Libor caused by the financial crisis. As funds in this sector are not directly comparable with each other due to different investment processes and risk and return targets, we assess each fund against its objectives rather than using its performance against other funds in the sector. We continue to divide the sector by currency, to take account of the different prevailing interest rates. ...
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