In recent years, many people write about the problem of concentration of hedge funds around the same issue - for AMarkets materials.
However, only two fund of the top 20 on the amount of capital have benefited by the end of 2015. Probably, the fund has some good reason why they hold in their portfolios so many papers from the last time the bad results. This reason is surprisingly simple. As economists say, the hedge funds are hedged banal.Their strategy is focused on capital preservation rather than multiplication. But with out augmentation problem - given the large number of losers in the industry.
Very popular purchase among hedge funds in 2015 and 2016 - ETF funds. Who is the hands of hedge funds $ 133 billion ETF instruments. At the same time investing in individual stocks - $ 1.8 trillion (Goldman Sachs data).
While most of the investment in the ETF - investment instruments aimed at the maximum volume of short transactions. Roughly speaking, hedge funds use the ETF primarily to shorts.