A Contrarian Fund Manager Bets Against Emerging Markets
Given the volatility of stocks in recent years, very few hedged mutual funds have lived up to their promise of protecting investors on the downside while generating positive results on the up. The Icon Long/Short Fund, for example, fell 39.9 percent in 2008, more than the S&P 500's 37.0 percent. It also lagged during the recovery, rising only 15.4 percent in 2009, compared with the S&P's 26.5 percent. Portfolio manager Michael Aronstein’s Marketfield Fund, by contrast, outperformed the S&P in both of those years.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Smartphones Are Killing Americans, But Nobody’s Counting
- Why a Pub in the Middle of Nowhere Was Named the World’s Best Restaurant
- Ford to Take $267 Million Hit From Recall of F-Series Trucks
- Facebook and Google Helped Anti-Refugee Campaign in Swing States
- Gulf Coast Oil Spill May Be Largest Since 2010 BP Disaster