How to choose an absolute return fund

The strong equity market returns seen in 2012 and 2013 were driven primarily by macroeconomic factors, with monetary and fiscal policy from key governments, and central banks being important drivers of investor sentiment.  Many markets, stocks, and sectors were re-rated, with less distinction made between those areas whose re-rating was justified on a fundamental basis, and those that were not. The lack of variance in performance between individual stocks within the same sector made it difficult for active managers to generate alpha through stock selection, with sector positioning and...