Sep
07
Family Offices Back Away From Hedge Funds After Returns Decline
By-
Wealthy families cut allocations to funds by 10%, report says
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The average return for offices dropped to 0.3% in 2015
Family offices, which manage the money of wealthy clans, are growing wary of hedge funds.
Offices reduced their exposure to hedge funds, which have mostly underperformed stock markets since the financial crisis, by 10 percent in the 12 months ending in May, according to a report by UBS Group AG and London-based research firm Campden Wealth.
“The reduction in allocation to hedge funds comes down to two concerns: high fees and disappointing performance,” Philip Higson, vice chairman of Zurich-based UBS’s global family office group, said in an interview…
Family Offices Back Away From Hedge Funds After Returns Decline
