What's the problem?

At hedge fund launches, the marketing literature invariably notes that the fund is aimed at high net worth individuals, but it would be nice if institutional clientele came in as well. Schroders and Deutsche Asset Management are among the many planning launches in coming months. So, hedge funds are ready for pension fund moneyÉ and pension trustees say they have an open mindÉ but there is still a gap between intention and take-up. What's the problem?

There is no doubt that the hedge fund

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