Mark Fitzgerald, Alpha Management Group

Long-only managers have experience of taking active positions around a pre-defined benchmark. Actively going short requires a different skill set in order to identify stocks likely to underperform and to implement those insights efficiently. Removing the constraint allows a manager's insight to be more fully implemented and can result in a more optimal portfolio, with a more attractive risk and return profile than traditional long-only investment.

Although losses on the long side of the portfolio

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