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The absolute return funds are more expensive and they all do different things. Standard Life's one has got the most press and done very well. It is extremely complex though and uses a lot of different strategies to achieve it's returns. It came to the Irish market after the last crash. Haven't seen it in a market crash scenario yet.
However, Jim's point about hedge funds (which encompasses such a broad spectrum) being the fasting growing product....."which means it is highly likely to be the big loser in coming years"......may be true but not necessarily so;
Also the available historic data simply does not show that hedge funds have, on average, meaningfully outperformed a traditional portfolio of stocks and bonds, notwithstanding the more complex risk exposure inherent in hedge fund strategies.
The hedge fund Jim mentioned and you again referenced seems to me to have been a high risk hedge fund.
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