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Hedge Funds Lose on UK Election Shock, But Man Less Than Machines

(Reuters) Hedge funds lost out on Tuesday after British Prime Minister Theresa May shocked markets by calling a snap election, but those led by humans outsmarted those led by machines, in a reversal of fortunes from the Brexit referendum.
While computer-driven hedge funds garnered plaudits for their outperformance in the wake of Britain’s shock vote to leave the European Union last year, this year’s first major test resulted in big losses.
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