Looking to small caps for gains

uk equity long/short

While UK corporate acquisitiveness for targets such as Aggregate Industries, Exel and Woolworths affected hedge funds in January, hedge fund managers were also looking further afield to the market's smaller end to make money.

The UK's FTSE All Share Index returned 1.33% in January; but David Elms, director of market neutral and enhanced equities at Henderson Global Investors and manager of the firm's UK Equity Market Neutral Fund, notes this masked a strong divergence of fortunes between firms of

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