Hunting for value

Emerging markets remains the worse performing sector in the hedge fund universe over the past three years.

Most funds' performance has slipped into the negative and some portfolio managers must be wondering if it is worthwhile getting out of bed in the morning.

But they are not all performing poorly, or being overshadowed by the convertible arbitrage, event driven and equity market neutral sectors.

The leading hedge fund in this Standard & Poor's sub-section, London-based Montpelier Asset

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