Khe Hy: Fund of funds are structurally doomed by layered fees
Khe Hy · It's Not About the Money (Capital Allocators, EP.45) · Mar 26, 2018 · at 26:26
Former BlackRock managing director Khe Hy reflects on his career motivations and skepticism regarding the long-term viability of the fund of funds industry.
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“When I entered the fund of funds industry in 2003, I said to myself, and it wasn't because I was smart. I said, I don't think this industry is going to be around in 10 years. And it was mostly a view on middlemen. And it was mostly, I just, I couldn't understand how people would still make money after all of the fees.”
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