It's been a constant knock on mutual funds and now it's bled into the high-flying hedge fund world. Many hedge funds are focusing on gathering assets instead of generating returns - one big reason why gains have slipped in recent months - a well-known hedge fund investor told Reuters.

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.