The hedge fund industry’s talent “bubble” is yet to pop — indeed, the war over trader pay has entered a new phase with a flurry of recent headlines showing even loss-making PMs poached by peers.
For the top multi-strats, it has never been a more frustrating, or expensive, business. Pass-through eases the pain, of course. But there remains an intense focus at the top of these firms on resilience and making sure they remain sustainable and competitive for the long-term.
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