Wealthy Are Pulling Out of Hedge Funds
From the WSJ.
According to Cap Gemini and Merrill Lynch’s World Wealth Report, issued Wednesday, the rich cut their exposure dramatically to “alternative investments” — a class that includes hedge funds, private equity, structured products, venture capital and currencies.
In 2005, the world’s financial millionaires (those with investible assets of $1 million or more, not including primary residence) had 20% of their investments in alternatives. In 2006, they cut that exposure in half — to 10%.
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Posted: June 28th, 2007 under General, hedge funds.
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