When Sygnia’s CEO Magda Wierzycka announced on Wednesday that the company is closing all of its fund-of-hedge-fund products, she was adamant that this was fully in the best interests of investors. “This has cost us millions in fees,” she acknowledged. “We have closed down very profitable products.” Wierzycka said that Sygnia made a decision that it could not continue paying the high fees charged by hedge fund managers when their performance did not appear to warrant it. What this means is that all investors who have been in these funds have to move to other products.