Allocators are expecting more from hedge funds in a higher rate environment, but it should boost the performance of some strategies, according to Jon Caplis, founder of PivotalPath in New York.
“This notion that used to be fundamental to evaluating hedge funds, of excess returns beyond the risk-free rate, was really irrelevant and barely a consideration for the last 15-plus years. That all changed starting in 2022,” he tells AFI.
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