Tiger 21 Club Millionaires Are Backing Out of Hedge Funds

A recent poll of the prestigious Tiger 21 investing club revealed that its well-heeled members are 'concerned, but not overly concerned' about the market’s recent meltdown, said the group’s chairman Michael Sonnenfeldt. 'About half of them said the market correction is about average, or what they expected, and about a third think it’s going to get worse so they are pulling back a little,' said Sonnenfeldt. Tiger 21 is a peer-to-peer learning network for high net worth investors. Tiger 21’s 300 members collectively manage approximately $30 billion in investable assets. Members are entrepreneurs, CEOs, inventors and top executives with who have a minimum of $10 million in investable assets. The Tiger 21 learning experience centers on improving its members’ investment acumen through critique and coaching, as well as exploring issues including wealth preservation, estate planning and family dynamics. Of course, this elite group certainly has the means to gain entry into high-priced hedge funds to protect against, or even profit from the market’s volatility. Nevertheless, Sonnenfeldt said Tiger 21’s members have been pulling back on hedge funds since 2008 and now hold 10% to 15% of their assets in them, which is historically low for the group.

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