Asia’s Richest Families Are Abandoning ‘Complacent’ Hedge Funds
- Familiy offices instead opt for private equity investments
- Asian funds set for biggest outflows in 4 years: Eurekahedge
Why Asia's Richest Families Are Dumping Hedge Funds
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For Michael Preiss, whose firm oversees $1.9 billion mainly for wealthy Asian families, adding hedge funds to his clients’ portfolios was an easy sell some years ago. Not anymore.
The executive director at the Singapore-based Taurus Wealth Advisors Pte multi-family office said his clients are disappointed with mediocre hedge fund returns and are balking at high fees, prompting them to shift to private equity.