That is providing a nasty reality-check to those money managers who had hoped it would all be just a bad dream.

ECONOMIST: Fund management

"Its history is a tale of strategic brilliance and operational excellence that all managers dream will be told about them some day, " writes Harvard professor Clayton M.

FORBES: Magazine Article

Investors would not dream of paying a performance fee to traditional fund managers merely for matching the market return, yet they cheerfully reward private-equity managers for the same feat.

ECONOMIST: Time to reassess how fund managers are rewarded