(HedgeCo.Net) A quiet but powerful transformation is reshaping the foundations of the hedge fund industry. Institutional investors—once the backbone of commingled fund structures—are increasingly pivoting toward separately managed accounts (SMAs), a trend that is rapidly gaining momentum across pensions, endowments, sovereign wealth funds, and large family offices.
At its core, this shift reflects a fundamental change in investor priorities. Transparency, control, and liquidity—once secondary...
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