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Hedge Fund Investors Demanding More Control

New York Post – The days of hedge funds operating behind a curtain may soon be over.

Bruised and bloodied by unprecedented losses, hedge-fund investors are rebelling, demanding lower fees, greater transparency and, in a growing number of cases, unfettered access to their dough.

They’re doing this through separately managed accounts (SMAs), which basically act as a portfolio for individual investors.

SMAs are common with brokerage firms but have long been shunned by hedge-fund managers.

Mike Murray of Shoreline Trading Group, which acts as a prime brokerage for small hedge funds, said he’s seeing such a spike in demand for SMAs among hedge fund investors that he expects them to double by next year.

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