In Elliot Smither's article Hedge funds miss out on appetite for alternatives for Professional Wealth Management, Patrick Ghali discusses that there has been a move away from large managers into smaller managers, commenting: “We [Sussex Partners] always questioned the value of some of these guys. They tended to be the ones who were very institutional, very large. Performance was so-so. They were all slashing fees. Pursuing a volume strategy almost. Now in the press you are reading a lot about redemptions, and funnily enough, these tend to be coming from the same big guys that got all the money before.”
The full article can be read here.