(Nasdaq) Exiting a turbulent year and entering one with numerous question marks, we engaged four Neuberger Berman portfolio managers to provide perspective on the landscape for hedge funds. Representing a cross-section of long/short equity, credit and multi-manager strategies, these veteran investors compared notes on seeking absolute returns in a precarious but in some ways attractive environment. How would you characterize the climate in 2015? What’s been driving hedge fund performance?
Daniel Geber: Equity markets have been quite volatile, in our view, because of uncertainty regarding both monetary policy and fundamentals, whether economic or corporate-related, in the U.S., Europe, China and Japan. Investor expectations regarding policies and fundamentals have also been shifting throughout the year, which has added to the volatility.
