There is a glut of hedge funds, the best large ones are usually closed to new investors. In a year where many struggled of course fees v return looks bad. 2% of

There is a glut of hedge funds, the best large ones are usually closed to new investors. In a year where many struggled of course fees v return looks bad. 2% of assets and 20% of gains is a steep price but it is cheap when you get one of the best. Pension funds don't do a good job of selecting managers and every man and his dog has opened one just to collect 2&20 rent on the money. Very few managers have an edge and it can be impossible to tell which ones do. All statistics on hedge funds are of limited value as the samples are incomplete and skewed - it is an information game after all.