The new orthodoxy


One of the drivers of the hedge fund industry’s growth is increased interest from outside its traditional investor base of wealthy individuals. Just over a decade ago, the public perception of hedge funds as huge gambling machines that threaten financial stability was created. This was in the aftermath of sterling’s dramatic exit from the European exchange rate mechanism on the back of what was reportedly a $10 billion short sterling position put on by George Soros’ Quantum Funds. Subsequent