Hedge funds are targeting the mutual fund market. Stop the Presses.
Catching wind of the alternative winds that have been buffeting the mutual fund business since 2008, the Financial Times writes
that "the next source of growth for the hedge fund industry are the widows and orphans of the mutual fund market."
The article cites data from Citigroup
, which forecasts that retail assets will more than triple to $940 billion during the next four years, from $305 billion at the end of 2012.
The newspaper then goes on to say that the "trend is a convergence of two themes: traditional asset managers looking for high-margin products as a response to competition from cheap exchange-traded funds; and hedge funds looking for a new source of capital."
Read the Financial Times
for their take on ongoing trend.
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