Exact(51)
Critics accuse the fund of overreaching.
This does not absolve the fund of mistakes.
Mr Stiglitz accused the fund of fanning the flames by prescribing fiscal austerity and tight money.
Then the fund of funds charges a management fee on top of that.
But the "fund of funds" model has its critics, especially as hedge funds have lagged behind stocks in recent years.
Investigators heard SAC traders on incriminating wiretaps; in other instances, cooperators and informants accused the fund of misconduct.
Similar(9)
That included the fund-of-funds unit that allocates investors' cash to fund managers.
The ban on the fund-of-funds concept has been lifted.
The transaction comes as the fund-of-funds industry is under criticism, with investors hesitant to pay extra fees to invest in already-expensive hedge funds.
I also like the fund-of-fund concept.
Still, the deal comes at a time when the fund-of-funds business is largely under fire.
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