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December 18, 2005
Hedge Funds Dragged Down at Investor Conference
It is being reported in the trade circles that Hedge funds are performing badly and charging far more. The issue was brought into the limelight by numerous speakers at a recent investor conference sponsored by one of the leading groups. Nysun reports:
The topics du jour in hedge fund land were: higher fees, longer lockups, more lenient high water marks, "sidepockets" that are being used to put aside losses, a growing gap between winners and losers, a slowdown in the money going into funds-of-funds, more "activist" managers, increasing use of "gates" to limit withdrawals and a drop in the use of soft dollars. Few bode well for investors' returns.
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