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March 06, 2006
Hedge Funds: Risky Business
The recent trend witnessed in the investment pattern of hedge funds investors is that they are not ready to bet all their fortune on one single hedge funds manager. This was outlined by Donald Putnam, chief executive of the investment bank Grail Partners, while he was speaking to a room full of fund of funds managers. Iht reports:
While few agree with Putnam's prediction of extinction, a recent flurry of deals in funds of funds shows that the business is rapidly changing. Since June, institutions have bought, at high prices, nine funds of funds, compared with eight such deals from 2000 to 2005, according to one major investment bank's data.
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