2 November 2008 22:17
He predicts that many hedge fund managers will close down because they realise it is unlikely they will reach high-water marks, which are designed to allow investors to recover losses without having to pay performance fees until the original targets are reached.
He said that the impact of asset allocation rebalancing by disciplined pension funds would assist the recovery.
“I think we could end the year with the (US share) market at around the level of June or July,” he said.
performance, ”, returns, allocation, versus, current, decline, “a, “but, strategists, today;, strategies
Colonial First State chief investment officer Jonathan Armitage says a shift away from reliance on US mega-cap tech stocks is reshaping portfolio resilience, with emerging markets, private debt and catastrophe bonds helping to drive returns across the portfolio.
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