More than ever, investors stung by the financial crisis are giving the cold shoulder to traditional stock-pickers and bond managers. Overall assets managed by the investment management industry rose 9 percent to a record last year after four flat years, buoyed mostly by rebounding stocks and the last leg of a decades-long bond rally. This recovery did not extend to everybody, as U.S. firms outpaced their Europe-based rivals, while traditional long-only stock funds continues to suffer net ...

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