From the WSJ: The hedge-fund industry has become less fun than it used to
be, but some observers are seeing the makings of a return to the higher-risk,
higher-reward days of yore. The industry
looks set to lag behind stock markets for the fourth consecutive year. Over the
three years to the end of August, the average hedge fund has gained 3.21% a
year, according to Hedge Fund Research.
Behind the diminished returns? The kind of staid
institutions that hedgies once tried to be an alternative to. Two-thirds of
assets in the $2.1 trillion hedge-fund industry are now owned by institutional
investors, compared with less than a fifth 10 years ago, according to Deutsche
Bank DBK.XE +0.98% prime brokerage. This
shift has changed the fabric of the industry….
Find out more at http://online.wsj.com/article/SB10000872396390444004704578030252979962918.html?mod=googlenews_wsj
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