(Bloomberg) Family offices, which manage the money of wealthy clans, are growing wary of hedge funds.
Offices reduced their exposure to hedge funds, which have mostly underperformed stock markets since the financial crisis, by 10 percent in the 12 months ending in May, according to a report by UBS Group AG and London-based research firm Campden Wealth.
Family Offices Back Away From Hedge Funds After Returns Decline
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