Madoff fraud will ultimately sort the true funds of funds from those not set up for the institutional world
By Susan Barreto
Hundreds of column inches have been written on Bernard L. Madoff since the fateful unveiling of the Ponzi scheme in early December. Fatigue on the subject has definitely set in. Whether or not lessons have been learned remains yet to be seen, but the one thing crystal clear for the funds of funds industry is that "cocktail party" hedge fund investing is finally over.
The age of "institutional" hedge fund investing, with the transparency and dialogue end investors expect from the providers they pay for, has arrived in funds of funds