Hedge funds Let them eat hedge funds

Hedge fund investment is restricted by law to the very rich. As a result, the hoi polloi has been stuck with closet-tracking, underperforming mutual funds. At last, the public is being provided with the chance to join the hedge fund mania. JP Morgan Asset Management is the latest fund manager to offer a market-neutral mutual fund through its hedge fund unit, Highbridge Capital. Unfortunately, the democratisation of alternative asset management comes at a price: higher fees. With their ability t...