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Pick your target

Knowing what a manager is aiming at is crucial to inform ongoing monitoring of early stage funds says GAM's David Smith

For the vast majority of hedge fund investors, past performance still acts as the most important variable when assessing whether or not to invest in a particular hedge fund.

If hedge funds show consistent returns, we should, in theory, be able to invest in a manager with a good track record and assume that performance will be as impressive in the future.

However, GAM believes that past performance

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