Hedge Funds Go Hunting

Hedge funds are on the hunt for new clients as the WSJ’s Wealth Adviser notes here:

Hedge funds go mass-market as rich lose interest. For the wealthy and their advisers, “the sex appeal of hedge funds has worn off,” says Pennsylvania-based adviser Douglas Kobak. Because of that, Ben Steverman writes on Bloomberg’s Ventured & Gained blog, the funds have gone “hunting for new, less skeptical customers” by marketing mutual funds marked by “high fees, inconsistent performance and strategies that take a PhD to decipher.”