Multi-Strategy Hedge Funds Outperform And Draw In Cash

“Multi-strategy” hedge funds like Millennium, Citadel, Point72, Balyasny and Bridgewater are recording some of the best performances in the hedge fund industry this year, rewarding investors despite their notoriously high fees. Multi-strategy funds usually operate under a “pass-through” fee model where they pass every single expense onto clients, rather than levying a standard percentage management fee. This can amount to as much as 10% of assets a year, and that’s on top of a performance fee, typically 20% to 30% of profits. Still, this hasn’t stopped investors from shovelling money into these strategies. Assets under management have more than doubled…