Man Group’s Ellis Says Some Hedge Funds Are Being Too Greedy
- ‘The client is the one taking all the risk,’ Man’s CEO says
- He’s bothered by expensive funds, some of which lose money
Source: Bloomberg
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In the never-ending give and take between hedge funds and their investors, some managers are simply taking too much. Says who? Surprisingly, a hedge fund manager -- one of the biggest, in fact.
“It’s really important that most of the alpha goes to the clients,” Luke Ellis, who oversees about $124 billion as chief executive officer of Man Group Plc, said in a Bloomberg “Front Row” interview. “The client is the one taking all the risk, and the client should get the majority of the rewards.”