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Averill Suffers a Setback

One of the most successful new funds in recent memory has now posted losses for the past three months.

One of the hottest hedge funds in recent years is experiencing perhaps the worst stretch in its short history.Averill Partners posted a 15 percent loss in August, sinking the firm into the red for the year. It is now down more than 9 percent through August. This is the fund’s

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