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The average fund is worth only £24,000.
The average fund is down nearly 5percentt so far this year.
But the average fund returned nearly 20 percent in 2009.
The average fund manager cannot earn more than the market.
In 2008, the average fund declined by more than 19%.
The average fund lost 0.2% in the first half and the average fund-of-funds 1.4%, reflecting the extra layer of fees they charge.
The average American stock fund was down 16.2 percent, and the average fund focusing on Europe fell 23.7 percent.
The average fund of funds adds a 1 percent fee on top of those charges.
Hedge funds first disappointed investors en masse in 2008, when the average fund fell by 19%.
The average fund in the study had $299 million in net assets when it changed its name.
He was down 55percentt while the average fund was down 18percentt.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com