il s agit ici d une expertise en approche de gestion dite Performance Totale (Total Return) a distinguer de Performance Absolue (Absolute Return)

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Note added at 5 hrs (2008-01-20 22:00:47 GMT)
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The distinction between absolute and total return
It is important that clients fully appreciate the difference between the concepts of absolute and total return. In our view, the differences are as follows:
Total return funds - these invest so that their return comes from a combination of income and capital growth. A total return fund may often have an index or peer group benchmark.
Absolute return funds - in contrast, these funds aim to preserve a client's capital and consistently to achieve positive returns. Consequently, they are generally measured against cash, thereby having an 'absolute' benchmark.
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