"Absolute return" - a definition in transition

absolute return

There still exists some "clear confusion" in the industry over what constitutes 'absolute-return' strategies and vehicles, and how these differ from hedge funds, according to Marc Gordon, founder and managing director of Close Fund Management.

Speaking at the Fund Forum conference in Monte Carlo in July, Gordon was not alone among experts in noting the paucity of uniformity over definitions.

Mark Lyttleton, fund manager at Merrill Lynch Investment Managers, for example, said he had seen some p

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