In Becky Pritchard's article The big squeeze: Hedge funds face an identity crisis for Financial News, Patrick Ghali, Managing Partner, discusses the effect of investors' money heading to some of the largest fund managers, commenting:
"If you look at where the money has gone in the last few years, a lot of the money has gone to the very big guys, but a lot of them have not done so well," said Patrick Ghali, co-founder of Sussex Partners. “Overall many of the big guys are going to continue to slash fees. They are in the Tesco business of big volumes, but the really good guys can still charge anything they want.”
The full article, which reviews some of the fee pressures within the hedge fund can be read here (subscription required).