Jury still out on sector

One of the most controversial sectors in the market, equity market neutral aims to give low annual returns of between 6% and 10%, but with controlled, lower risk profiles relative to other funds. The figures for the 15 funds tracked by S&P Micropal over the three-year period suggest that this aim has, to a large extent, been achieved, although hedge fund specialists remain sceptical.

In the 12 months to August, the larger universe of 19 funds tracked by S&P Micropal gained 20.2%, with

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