The Search for a Holographic Dual to AdS(3)xS(3)xS(3)xS(1)
  The problem of finding a holographic CFT dual to string theory on AdS(3)xS(3)xS(3)xS(1) is examined in depth. This background supports a large N=4 superconformal symmetry. While in some respects similar to the familiar small N=4 systems on AdS(3)xS(3)xK3 and AdS(3)xS(3)xT4, there are important qualitative differences. Using an analog of the elliptic genus for large N=4 theories we rule out all extant proposals -- in their simplest form -- for a holographic duality to supergravity at generic values of the background fluxes. Modifications of these extant proposals and other possible duals are discussed. 
Sergei Gukov, Emil Martinec, Gregory Moore, Andrew Strominger