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Research Perspective Vol. 70

As we approach the end of 2017, hedge funds have not experienced any negative month, but the first two weeks of December indicate that this momentum will come to an end. Equity hedge did not exploit the higher equity prices due to anticipation of tax reform in the US, leading the losses in hedge funds. The Fed announced its intentions to raise interest rates further and its positive outlook for economic growth, which is supported by other major central banks for the coming year. The only strategies in gains so far this month are systematic CTA and relative value strategies....