Multi-manager hedge funds suffer outflows as investor frenzy fades

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Financial Times 14h ago

Multi-manager hedge funds suffer outflows as investor frenzy fades - Financial Times

Quick Summary:

These funds have pulled in tens of billions of dollars from big investors in recent years thanks to and strict risk controls and consistent returns, even in equity bear markets such as 2022.

But weaker returns last year have also dented investor enthusiasm, with a gap emerging last year between larger, more established players such as Citadel and Millennium, and smaller firms, some of whom did little better than the return from cash.

In contrast, hedge funds on average charge a management fee of 1.35 per cent, according to data group HFR, to cover their costs, plus a performance fee.