The short-term minded and “what have you done for me lately” crowd can’t be happy about the high fees they’re paying for their hedge fund manager. The Wall Street Journal reports.
It’s been a great year for the stock market. It’s been a tough year for a hedge-fund manager.
A typical hedge fund has risen 4%, on average, this year through Aug. 9, according to an analysis conducted by Goldman Sachs. That performance compares to a 20% total return (including dividends) for the S&P 500 over the same time frame, meaning the market has outperformed an average hedge fund by five times this year.