Wealth Bulletin – Millionaire hedge fund manager Andrew Lahde might have got it right. The man whose valediction last month to his industry peers announced that “with all due respect, I am dropping out”, left the industry while the going was still relatively good.
, at the time of his speech, nine out of every 10 hedge funds were not able to take 20% of their profits as a performance fee, and the average hedge fund had lost about 19% of its value, reversing at least the two previous years’ gains. But hedge funds face withdrawals at year end that will match or exceed third-quarter record redemptions of $31bn (€24bn), according to data provider Hedge Fund Research.
