Q&A: Hedge fund executive Simon Lorne talks Trump, Brexit and 'Billions'
By Lawrence Delevingne
NEW YORK (Reuters) - Hedge fund critics are becoming increasingly vocal about the $3 trillion industry, arguing that it produces mediocre returns for clients while enriching managers with exorbitant fees.
Some large investors have withdrawn tens of billions of dollars, prompting a string of high-profile firms to restructure or close.
But despite some image problems the industry is actually healthy, according to Simon Lorne, vice chairman and chief legal officer of Millennium Management LLC and chairman since September of global hedge fund lobbying group Alternative Investment Management Association (AIMA).
The following are lightly edited excerpts from Lorne's comments on Monday in an interview with Reuters at Millennium's Fifth Avenue headquarters.
Reuters: Do hedge funds have a PR problem?
Lorne: Yes. Hedge funds are not the favored children of the investment community. Continued...