(Reuters) Big-name hedge funds favored by pension funds and the ultra-wealthy for their track record of stellar returns took a battering in the first quarter of 2016, with some posting their worst-ever start to a year on record. Most funds that deploy multiple investment strategies across asset classes have posted steady returns every year since the financial crisis, enabling many to charge hefty fees as investors queue up to put their money in. Last year $26.3 billion was poured into these so-called “multi-strategy” hedge funds according to data from Eurekahedge.
Golden Ticket Hedge Funds Battered in Rough Start to 2016
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