Last year was a terrific one for e equity fund managers as most of the global equity markets posted superb returns. In the U.S., the S&P 500 returned a record breaking 32.39% and the average large cap core manager, based on the Lipper category average, posted 31.63%. Overseas, the international developed markets returned 21.44%, by no means a small feat. Given the impressive gains, volatility and downside protection, on every manager's mind following the 2008 financial crisis, may have taken a back seat to seeking high returns.

Risk Management Implementation

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