RT Journal Article
SR Electronic
T1 An Alternative Future
JF The Journal of Portfolio Management
FD Institutional Investor Journals
SP 8
OP 23
DO 10.3905/jpm.2004.443316
VO 31
IS 1
A1 Clifford S Asness
YR 2004
UL https://pm-research.com/content/31/1/8.abstract
AB An argument can be made that hedge funds, particularly a combination of traditional index funds and hedge funds, represent the future of investment management? but we are not there yet, for a variety of reasons. Some dark sides of hedge fund investing stand in the way. Hedge fund fees remain a contentious issue. Fees must become more rational in terms of paying for alpha versus hedge fund beta versus traditional beta. Other evolutionary changes must occur to make hedge funds more user-friendly, particularly for institutional investors.