The latest indications of such bearish expectations arrived with the recent findings of the sixth annual alternative investments survey conducted by Deutsche Bank's hedge fund capital group. Compiling results from more than 1,000 respondents - including funds of hedge funds, pensions and endowments, family offices, and other hedge fund investors - the survey provides too nuanced a forecast to simply conclude that the hedge fund industry is uniformly in for a bruising for the next 12 months.

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