SNB's Hildebrand on the hedge fund industry

In a speech on 'Developments in the Hedge Fund industry' given on 4 February Philipp Hildebrand of the Swiss National Bank said hedge funds have been an important source of innovation in the asset management industry. They have rendered financial markets more liquid, more efficient and more flexible.

Nonetheless, Hildebrand said, market observation suggests that certain segments of the hedge fund industry can have some impact on market volatility, either by accentuating existing market trends

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