HEDGE FUNDS MUST strive to keep up with returns offered by the cash equity markets this year if they are to continue to attract funds at the same rate as in 2003.
Moving into hedge funds in 2001 and 2002 was a good way for smart investors to preserve their money in a bear market. In 2003, though, even as the industry enjoyed record inflows estimated at $60 billion by Tremont’s Tass Research, hedge fund indices underperformed the S&P500.
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