Many hedge funds will have trouble retaining top managers next year, thanks to terrible market performance across the board and a reward system based on that performance, The Wall Street Journal reports. To retain talent, they will have to tap into profits. Otherwise, they will have to close shop.
Hedge funds also face the prospect that many investors will redeem shares. Overall, analysts say, its likely that 15% of the hedge funds currently on the market wont exist next year.
One large hedge fund,
Even those hedge fund companies performing well face huge redemptions.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.