Hedge Funds
(Bloomberg Opinion) -- In recent years, the hedge fund industry has lost its luster. The rise of low-cost passive products has laid bare the inability of active managers to outpace benchmarks, leaving them without justification for their higher fees. Clients have voted with their pocketbooks, leaving in droves. But the world’s biggest publicly traded hedge fund is signaling that life may be about to get a bit brighter for its industry.

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