Absolute Return, the new industry mantra

In recent years a transformation has occurred in the investment industry. Following the nineties bull market, when long equity only portfolios would have enjoyed average annual returns of 17%, the worst bear market, in both U.S and European terms since 1929, was to follow. Three years of pain later and investors have found themselves desperately seeking the relative safe-haven of the last best performing asset, which until recently, was property. However, with property values seemingly peaking and bond yields leaving little scope for an "inflation shock", where do we go from here?

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