Although the fund of hedge funds model is in demise, direct hedge fund investment continues to rise and hedge funds continue to attract funds from institutional investors, with total industry AUM around $3 trillion. In the last few months a number of heavyweight reports have been released by consulting firms, assessing the hedge fund business environment in 2015-2016 and recommending business imperatives to be taken by managers. PwC expect to see greater segmentation, as hedge funds focus on specific investor channels, tailoring products and distribution to those channels, whether pension funds, SWFs, endowments or private investors. This will drive the...