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Few funds have actually shut their doors.
A few funds voluntarily report more often.
Still, a few funds in the category are thriving.
And that reflects what happened at a few funds run by one manager.
Taxes were purposely kept light, and the government consequently had few funds available for development.
"We try to spend well with the few funds we have," he added.
Very few funds manage to repeat top-half or top-quartile performance consistently.
A few funds, like Mr. Baum's portfolio, are linked to movements in commodity prices.
But for them, the impact was indirect, because few funds contain shares of Middle Eastern companies.
Even so, too much money is pouring into too few funds, chasing the few big deals on offer.
For a start, there are relatively few funds, and the amount of money they control is small.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com