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Once all of the funds' clients were wealthy individuals.
Circle T is in the process of returning investors' funds; clients have not lost money.
But because these funds account for less than a quarter of total assets, it cannot explain the woe of the industry overall.A fuller explanation must include the increasingly jittery nature of hedge funds' clients.
They will also invest more in other hard-to-trade assets such as distressed debt, reinsurance and property, hoping for higher returns on the wilder shores of illiquidity.The second change will be in hedge funds' clients.
A few genuinely brilliant managers may outperform the index but it is all but impossible to identify them in advance.Academics have been alive to this issue for 40 years; what is surprising, however, is how slow the active funds' clients have been to catch on.
And Schwab, just like Fidelity and Vanguard, gets paid to manage the 401(k) programs of big companies in which it also has its funds' clients invest.
Similar(53)
He manages real estate portfolios for pension fund clients.
Moody's Investor Service warned mutual fund clients that the impasse was threatening money market mutual funds.
He promptly shared the information with his roster of hedge fund clients.
She conducts investment research in the energy and industrial sectors for hedge-fund clients.
I've got pension fund clients who are managing the retirement funds of shopfloor workers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com