Fund of hedge funds face fight for cash with consultants

Reuters – Funds that invest in a range of hedge funds are facing a battle to win new business, as the same consultants they court to win money from pension firms are grabbing a chunk of an industry that was already struggling to grow.

So-called fund of hedge funds are designed to give investors an easy way of putting money into hedge funds, offering to spread their risks and do research into the individual hedge funds for them.

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