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Hedge funds strive to keep investors

Wall Street, which is used to calling the shots, is now forced to sweeten deal with investors and even share the pie.

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Valeant Pharmaceuticals, one of the most popular stocks in 2015, saw its stock price soar to more than US$260 a share at one point. But after news of a government investigation, the stock came crashing down. Investors were outraged as fund managers lost billions. On Friday, Valeant's share closed at a low of US$24.

HEDGE fund titans once ran their firms like elite private clubs, picking who made it past the velvet rope and how much they would pay for access to supercharged performance.

Years of poor performance have now led a number of funds to consider something more like general admission.