Hedge funds Hedge fund fees pour out of the sky during market-beating alpha returns which averaged 18.3% pa in 1990s, 6.4% in 2000s, 3.4% pa since 2010.  But buoyant markets now mask outflows to keep their global size constant at £2.3tn ($3tn, €2.7tn).  In 2018, 580 funds out of 11,000 closed, outnumbering launches for a…