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Downstream

Does money follow performance? Judging by the latest data, the jury is still out.

  (Illustration by Luke Ramsey) According to AR’s annual analysis of fund flows, which encompasses funds that report their assets to the HedgeFund Intelligence database, the strongest strategy for fundraising last year was mortgage-backed securities, which grew by 11.08 percent including performance gains. That’s no surprise, and it explains why firms

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