Salient to Investors:

George Soros said institutions that invest in hedge funds should expect poor performance because of high fees – typically 2 percent of assets and 20 percent of returns – and because hedge funds are such a dominant force in the market, so can’t, as a group, outperform it.

Soros said hedge-fund performance will be impeded because managers and investors are reluctant to take risks, and outperforming with low volatility on a consistent basis is impossible.

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