Hedge funds: Bigger, safer but duller | The Economist
To retain investors, hedge funds have had to shed their cloak of secrecy. Some managers have started to meet their investors regularly and provide them with more frequent reports about performance. Other firms give investors greater access, via their websites, to up-to-date information about returns, leverage and liquidity. “We are so much more transparent than we used to be, and more transparent to our investors than a lot of public institutions”, says Simon Lorne of Millennium Partners.