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Market Volatility Gives Liquid Alts First Real Test
I was fairly unimpressed by alt funds during the recent volatility (I follow Marketfield and some of the aston long/short funds)...I think I would have been better off in bonds for this portion of the allocation. I'm wondering if anyone was particularly happy with their alt investment? A sophisticated private fund of funds manager told me this summer that the liquid alts won't outperform because they are not the best managers and they are too constrained in the registered fund format. This may be true but it is always hard to get to the best managers.
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