Hedge funds are singing a new tune when it comes to customer service, the Deseret Morning News reports. After losing 37% of assets in 2008 to poor performance and withdrawals, hedge funds are traveling to see clients, rather than have them meet in their offices.
More importantly, they are lowering fees, offering greater transparency, opening separate accounts to them and becoming more lenient on redemptions.
For a while there, managers forgot that it was our money, said Brad Alford, head of Alpha Capital Management, which vets hedge funds for clients. Now, investors are fighting back.
But some dont expect hedge funds to make the concessions permanent.