February 16, 2018
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LONDON (Reuters) - Hedge funds focused on trading cryptocurrencies have struggled to eke out returns this year amid a sharp sell-off in the highly volatile market, in spite of a flood of new funds setting up to deploy investor cash...
BitSpread’s founder Cedric Jeanson said the fund’s market-neutral strategy meant it could make money even if the price of bitcoin and its rivals collapsed. It has made money in every month that it has been running since its launch in May 2017.
Jeanson said some of the hedge funds charge high fees - an average of 1.6 percent for management and 17.5 percent for performance for funds tracked by Eurekahedge - even though they are using largely passive strategies.
“If you’re paying an investment manager, they have to have to provide some kind of alpha; and there has to be a consistent return,” said Jeanson...
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