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The $2.9 trillion industry has posted average annual returns of 2 percent over the past three years.
Jess Lee will leave her post as CEO of fashion and home decor site Polyvore.
The reduction comes in the midst of a mass exodus of investors fed up with high fees.
Retrenchment in the hedge fund industry is fueling layoffs and closures.
With his patents under gag order, millionaire Gregory Sancoff was forced to lay off most of his employees.
Parvus operates from a discreet townhouse in London’s Mayfair neighborhood.
The Ivy League’s edge is waning a bit, at least when it comes to endowment performance.
Starting October 17, U.S. residents will be free to import as many as 100 Cuban cigars.
Under the plan, investment managers would pay higher taxes on the "carried interest" that makes up most of their income.
Returns have fallen off a cliff after a crackdown on insider trading.