The Europe 50: Borrowed Time

Investors in European hedge funds counted on macro and managed-futures funds to steer them safely through crises. But if their performance doesn’t improve, these funds may not be favorites for long.

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(Illustration by Neil Webb )

The European sovereign-debt crisis has wreaked havoc on financial markets and cast a pall of economic uncertainty extending well beyond the Continent that has made it difficult for hedge fund investors to know where to turn.

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