Monday, August 16, 2010


2nd QTR Equity Losses Raise Specter of “Double Dip”

Flexibility of L/S Equity Funds Facilitates Integration of Divergent Views

From the Third Quarter, 2010 issue of Barclay Managed Funds Report. The full report also includes 24 hedge fund and managed futures performance ranking tables and in-depth manager profiles. Subscribe. View Roundtables from back issues.

Following four consecutive quarters of positive returns, the S&P 500 retreated during the second quarter of 2010 reflecting a market reality check on the true speed of the global economic recovery. Data in the US continues to be mixed at best, with the high level of unemployment remaining the greatest concern along with wavering consumer sentiment.

More disconcerting is that the US appears to be the shining star among the developed world with Europe roiled by the Greek debt crisis and Japan teetering on a similar fiscal path. And while the emerging markets appear decoupled from their developed counterparts in leading the economic recovery, market volatility remains elevated throughout the region.

While this type of global market volatility poses obvious challenges to long-only investors, it would seem that the current opportunity set would be bountiful for long/short equity managers that have much more flexibility in the management of their market exposure. With a host of impending regulations on the horizon, both in
the US and abroad, however, questions have been raised as to the ability of long/short equity managers to continue to add value on a non-correlated basis going forward. To discuss the equity market environment and opportunities within long/short equity investing in more detail, we have assembled a panel of experienced

Our panel includes:

Brad Golding, Christofferson,Robb & Company
Nico Y. Mizrahi, First Pacific Advisors, LLC.
Anna Nikolayevsky, Axel Partners,LP.

The complete article will be available on the website in November 2010. Subscribe to receive each issue of the Barclay Managed Funds Report as it comes out.

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