Bullish outlook for maturing market

As the hedge fund market matures product providers and investors must learn not to expect the stellar double digit returns of the 1990s, according to Derek Stewart of Mellon Global Alternative Investments. During the 1990s, hedge fund returns across a broad range of strategies averaged 18.3% annualised but during the period January 2000 to July this year the equivalent figure has been 7.1% Stewart said: "We can see how strong they were in the late-1990s but this was a golden period for investing and it set everyone's expectations too high. You can see this with strategies like long/short ...