The rules haven’t been completed, but we can look forward to an ad featuring a wizened couple in matching tubs overlooking a sunset, holding hands and talking about how they just put money with the next George Soros.Once deluxe investments for university endowments and wealthy individuals, hedge funds have found their way into the portfolios of less sophisticated institutional investors. Now they're poised to target the millionaire next door.
Will the effort further dim their cachet in the high-net-worth market? Eisinger thinks so:
"If Groucho Marx were alive today, he'd say that he would never want to invest in a hedge fund that would have him as a limited partner."