Funds of hedge funds now battle consultants for investors

04/30/2014 | Reuters

The funds of hedge funds niche has struggled ever since the financial crisis and the Bernard Madoff scandal, which prompted more limited partners to exit. The latest challenge comes from the very same consultants that once recommended funds of hedge funds for institutional clients. These consultants have now directly entered the business. Mercer, Cambridge Associates and Towers Watson are ranked in the top 10 biggest funds of hedge funds.

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