A Double-Edged Sword

HEDGE FUND IT

The flow of institutional money into the alternative asset management space may not be a recent phenomenon, but it is an exciting opportunity for hedge funds. For example, Scandinavian-based pension funds, including certain state-run funds, have been allocating as much as 15 percent of their assets to hedge funds over the years. This figure pales in comparison to the interest in hedge funds shown by their industry cousins--the funds of hedge funds--which accounted for as much as 80 percent of

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