, Columnist
MetLife's Hedge Fund Chop
Withdrawals will continue until performance improves.
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Next year may be just as difficult as this one has been for hedge funds, at least when it comes to fundraising.
Big investors just keep pulling money from the funds, and it looks as if that will continue into 2017. Metropolitan Life Insurance Co., for example, noted in an investor call Friday that it planned to reduce its hedge fund allocation to just $800 million by the end of next year, from about $1.8 billion earlier this year. Many others, including public pension funds in New York and California and American International Group, have been making similar moves.