Despite their persistent popularity and tendency for impressive returns, hedge funds aren't all they're cracked up to be and are riskier than the average investment management industry executive might think, a group of leading financial experts claims.

After surging to the forefront during the last bear market on the dollars of ultra-wealthy investors, hedge funds now number more than 8,000. In fact, there are now more hedge funds than mutual funds, although their $1 trillion in assets still pales in comparison to the $8.1 trillion that's managed by their more traditional counterparts.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.