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Jim Cone From Komfie Manalo, Opalesque Asia:

During the inaugural Opalesque Monaco Roundtable that took place in Monaco last month, Efficient Capital Management partner Jim Cone described managed futures as "the true alpha, opportunistic, they can be directional long or short, and can trade across all asset classes."

The Roundtable and was sponsored by Salus Alpha and Eurex.

Cone clarified that he made the assessment "with the greatest respect to the hedge fund industry but added, "we all know a large amount of that return is beta, and on top you may end up with a lot of counterparty, credit, liquidity, valuation, or transparency risk."

According to Cone, managed futures are the fastest growing investment class in the entire hedge fund and alternative investment space. The aggregate AuM of the strategy is now at $350bn.

"The largest managers get into AuM situations where their positions by default, are going to be in the largest markets such as interest rates, bonds, forex and the stock indices as this is where they can get their position size placed in those instruments while staying in the long-term trends. This served them very well......................

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