For the first two decades of their life, hedged funds produced outstanding returns on average. For the past 20 years, it's not been so good. In this Spotlight, we review the reasons why, and whether there are any hedge funds worthy of inclusion in portfolios.

Gold has fascinated investors and analysts for decades. But it is a poor hedge against inflation over meaningful time horizons, and it is close to its highest real price in 800 years.

This Spotlight finds that High Yield Debt can be a very useful addition to most investors' portfolios, producing returns that are close to those of Equities, but with lower risk. Read the full report.