From Barrons: They cater to investors who are sick of
actively managed mutual funds that earn a percentage above an undulating stock
or bond benchmark.
Few people needed to know what absolute-return funds were
until new ones started proliferating this year. Lipper defines them as seeking
"positive returns in all market conditions" without measuring
themselves against investable indexes. To do this, they might invest in
derivatives. But according to Josh Charney, an analyst at Morningstar who
covers alternative investments, absolute-return funds use so many different
strategies to meet such different goals that any single definition would be
"absolutely bogus."
Until recently, absolute-return was only for high-net-worth
individuals and institutional investors. But now mainstream mutual-fund
families are launching absolute-return funds with minimum ....
p://online.barrons.com/article/SB50001424053111903857104577460640582099410.html?mod=BOL_hpp_mag
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