Market views: How will hedge funds survive the cycle?

Institutional investors have been showing hedge funds little mercy amid disappointing returns and criticism over high fees. Jeffrey Vinik – who previously ran Fidelity’s Magellan fund – shut down the hedge fund he relaunched earlier this year due to a tepid reception from investors. “It has been much harder to raise money over the last several months than I anticipated,” Vinik said in a letter to investors dated October 23. While Vinik’s funds, set to be closed on November 15, g…