Hedge funds are ‘dead as a doornail,’ says chairman of ultra-rich investors' club Tiger 21

Michael Sonnenfeldt, chairman of the exclusive investment network Tiger 21, declared hedge funds "dead as a doornail" for ultra-rich investors. Over the past 16 years, Tiger 21 members have drastically reduced their hedge fund allocations from 12% to just 2%, favoring private equity and real estate investments instead. Sonnenfeldt highlighted that members found better returns, liquidity, and lower fees in index funds and private equity compared to hedge funds, which have struggled to deliver strong returns in a low interest rate environment.