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Although the industry has undertaken work to improve the transparency of hedge porfolios, fund managers' opinions differ over just how transparent funds should be

More work needs to be done to improve hedge fund transparency, even though the industry's trade body has highlighted the fact that, on average, information and the frequency of release is improving.

The issue of understanding how a hedge fund is positioned, or at least its sector weightings, themes and strategy is crucial to investors in both individual hedge funds and funds of funds.

New York

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