(Bloomberg) Andrew Law said the hedge fund business is too big — and failing.
Law, who runs Caxton Associates, said the growth in industry assets since the global financial crisis has been “both an exceptional and unwelcome development.” Managers now need to generate gains of $350 billion a year to satisfy investor expectations, he said. That’s an annual return of about 12 percent from the $2.9 trillion industry, which has returned an average of 2.2 percent in the past five years.
Hedge Fund Industry Growth ‘Unwelcome,’ Says Caxton’s Law
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