Hedge funds

Available for over a year

Have the managers of hedge funds, not their clients, soaked up most of the industry's profits? Lesley Curwen talks to Simon Lack, author of The Hedge Fund Mirage who argues that 98% of the profits from the industry have gone to the managers of hedge funds, and only 2% to its clients, which include investors such as pension funds. Steven Bell, a director of London-based hedge fund GLC UK, responds to Simon Lack's criticism of the industry. Plus, how will Sydney's Olympic legacy compare with that of London? The BBC's sports editor, David Bond reports from Australia.