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Investors suffer as Asian hedge funds ossify

As institutions take over from high-net-worth individuals and family offices as the main investors in hedge funds around the world, those hedge fund managers, too, are becoming institutionalised. This is not always a good thing for investors.

Washington State prioritises excellence

The $70.5 billion Washington State Investment Board has prioritised hiring the best managers in public equities and is willing to sacrifice the number of active investment relationships in lieu of the managers it believes are “truly exceptional” as it enters 2010 with plans for global manager searches.