Unstable market conditions were supportive for hedge funds, in relative terms. Liquid hedge fund benchmarks were down -1% in March, with Distressed and Special Situations strategies underperforming. On a positive note, low beta strategies did well.

With monetary tightening expected, investors will need to consider the sensitivity of their equity portfolio to sovereign bonds and protect it as far as possible through active stock selection and sector allocation.

We think it is time to strengthen L/S Neutral funds allocation. While they faced months of challenging transversal stock rotations, we expect their environment to improve for several reasons.

CPR AM started 2018 in a positive frame of mind regarding the "Global Silver Age" strategy. Find out more about the strategy with Vafa Ahmadi, Head of Global Thematic Equities and Jean-Dominique Seta,Thematic Equity Portfolio Manager.

Alibaba is often heralded as the Amazon of China, and in terms of online retail dominance, it is. The business models of the two businesses are however very different. Indeed, Alibaba doesn't consider itself an ecommerce company at all.