Hedge fund fees are getting a makeover as consultants urge for fund managers to be compensated for their skill and not just for delivering market returns.
Australia's superannuation funds have moved away from active management toward cheaper access asset classes such as equities amid limited diversification, according to a paper by Round Tower Solutions.
The capital asset pricing model and the efficient market hypothesis reflects the death of investor common sense, claims the 300 Club, noting that such theories contributed to the 2008 financial collapse.
Last year was disappointing for active equity managers and as an overall climate of risk aversion persists, many of the early indicators of a risk recovery are emerging, Wellington concludes.