Hedge funds & mutual funds: “resistance” and “turf wars” or just eloping in Vegas
May 26th, 2009 | Filed under: Retail Investing, Today's Post
The “Resistance”
Hedge funds may have been beaten into submission by the combination of market and regulatory events, but hedge fund strategies live on. Morningstar’s Ben Alpert recently shone a spotlight on the tenacity of the alternative investment industry by referring to it as the “resistance” (to the traditional investing empire, one assumes).
Wrote Alpert:
“It’s true that the pace of new fund launches in the first quarter of 2009 was roughly half that of the past five years, causing a decline in the number of funds for the first time in memory…But even during the market’s darkest days of late 2008 and early 2009, new hedge funds were opening. A search of Morningstar’s hedge fund database recently revealed nearly 100 inceptions in the fourth quarter of 2008 and 75.”
He goes on to describe several new mutual funds that use hedge fund strategies. More…
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