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Jane Buchan on the Future of Hedge Funds

PAAMCO Ceo Jane Buchan says investors now see funds more as "pure alpha plays" and passive strategies are king.

       PAAMCO CEO Jane Buchan PAAMCO CEO Jane Buchan is a big believer in alpha — excess return over the market (beta). “Our clients are gorillas,” says the Irvine, California–based fund-of-hedge-funds firm co-founder, whose team advises some 90 large institutions, including MassPRIM and the North Carolina Retirement Systems. “They’re very big plans,

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