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Wes Moss Comments to CNBC.com Regarding the New Hedge Fund Allocations

In an article on CNBC.com, Wes Moss addresses his position on the new availability of hedge fund offerings coming out of Fidelity Investments’ Portfolio Advisory Service provided through an allocation deal with Blackstone Alternative Asset Management.  Through this partnership Fidelity is able to offer  a number of ‘hedge fund-lite’ products to mass level investors.

In an article on CNBC.com, Wes Moss addresses his position on the new availability of hedge fund offerings coming out of Fidelity Investments’ Portfolio Advisory Service provided through an allocation deal with Blackstone Alternative Asset Management.  Through this partnership Fidelity is able to offer  a number of ‘hedge fund-lite’ products to mass level investors.  Within this offering, Fidelity sees at +2 percent net expense ratio, which Wes Moss doesn’t deem good for investors, “I think it’s a loser’s game, because you can get safe diversification in other ways than loading yourself up with 3 percent annual hurdles before you even break even,” he said. “It’s a seven-layer dip [of fees]. How is anyone ever going to stay apace with the market itself?”

 

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