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Hedge Fund Managers Seek to Mine DC Market

OWS – Advisors may soon see lower fees for liquid alternative asset funds – hedge fund mutual funds – thanks to the push by hedge fund managers to market these plans more aggressively into the defined contribution space, according to panelists at last week’s 25th annual Morningstar Investment Conference.

Faced with the contraction of the defined benefit market, which is a large portion of their client base, many hedge fund managers are creating their own hedge fund mutual funds or are signing on as sub-advisors to existing mutual funds in order to penetrate the expanding defined contribution market. The increasing level of competition between these funds will continue to drive down their cost, traditionally some of highest of any asset class, said panelist Dennis Heinke, director of institutional product strategy at Franklin Templeton.

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