In the course of the last year, I’ve met with 100s of family offices, RIAs, and accredited investors. While our fundraising continues to be successful, one of the most common objections and themes we heard from potential investors was a desire for Market Neutral strategies due to the perception that these strategies are of lower risk. Even some of our largest LPs offered us seed cheques if we would take the market-neutral tactics we occasionally use in our primary fund and spin up a 2nd solely market-neutral fund due to this belief. However, our analysis shows that at the present time, market-neutral funds are far riskier than is commonly believed.