> Hege fund clients are almost all high net worth individuals who are very capable of making their own financial decisions
This is just blatantly false. The majority of clients are large institutions. FYI I used to work for one.
This is just blatantly false. The majority of clients are large institutions. FYI I used to work for one.
Well atleast we got you to move the goal posts from pension funds to large institutions but again think about the average hedge fund.
The average hedge fund is 3 people and about $25M in money. What kind of institutional money do you think they'll raise? That's right, about zero and their capital will be their own and friends/ family and one or two anchor clients.
Again with thousands of hedge funds and very few pension funds how could the majority of clients be pensions?
Your assertion doesn't seem to pass a quick sanity test:)
> the majority of their clients are large pension funds, endowments, sovreign wealth funds, and government managers
You said:
> The vast majority of hedge fund clients are high net worth individuals
"large pension funds, endowments, sovreign wealth funds, and government managers" are not high net worth individuals, by definition. You're just talking past each other (or you stopped reading after the first item of the list).
The US alone already has around 5000 defined benefits pension funds. (The smaller ones probably invest via fund-of-funds, rather than directly as a LP.)