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Article: Seeking to be respectable; Hedge funds.(Hedge funds' poor image)(Brief Article)
- Article from:
- The Economist (US)
- Article date:
- April 13, 2002
CopyrightCOPYRIGHT 2002 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Presentation is everything
Hedge funds are fighting for their good name
SOME 6,000 hedge funds vie for business, managing $500 billion worldwide. Yet the reputation of hedge funds grows no better. Ever since the near-collapse of Long-Term Capital Management in 1998, hedge funds have striven to get themselves seen as trustworthy vehicles for investment, fit for institutional money. But since then hedge funds have blundered, blown up or defrauded their investors at fairly regular intervals. Plenty of rich private investors enjoy the thrills and spills of hedge funds; they account for the bulk of investment. Institutional investors show much less faith.
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