You've also got to account for the incredible variance in what a hedge fund constitutes when dealing with terminology. Reinsurance, Property, Bonds, Options, F

You've also got to account for the incredible variance in what a hedge fund constitutes when dealing with terminology. Reinsurance, Property, Bonds, Options, FX etc etc It seems unwise to try and generalise across even just a generic equity fund, let alone the world of hedge funds.