Asia Times – The past 30 years have been notable for the rise of hedge funds, organizations that compete with the top Wall Street investment banks in remuneration, while charging their investors fees far above those traditional for investment management services.
Hedge funds had a mixed record in 2007-08; there were several large failures but also some notable successes. However in 2010 and 2011 hedge fund performance has been distinctly below par, and it is appropriate to wonder whether their rationale for outsize fees and remuneration will continue to prove convincing over the long term.
