"And how would Madam like us to make it?"

The future for the hedge fund industry lies with the bespoke advisory business, predicts Stephen Smith, managing director of alternative investments at Credit Suisse, who recently joined from Albourne to head the alternatives business.

He anticipates a decline in the number of clients taking pooled FoHF offerings relative to the number of people who wish to sit and have bespoke hedge fund portfolios created to ensure they diversify their existing investments.

"It takes six times longer but tha

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