If you're not sure what a hedge fund is, you're not alone.
Despite all the popular books, movies and television shows (including one featuring a vampire prop trader) that have brought hedge funds to the popular consciousness, just 65% of Americans said they know what a hedge fund is in a recent survey.
More men — 39%, vs. 32% of women — avowed that they know a hedge fund when they see one, according to the survey, which was conducted in early March.
Hispanic respondents were least familiar with hedge funds with 80% admitting that they don't know what a hedge fund is, followed by African-Americans at 66% and Caucasians at 62%.
The survey was commissioned by Thesis Fund Management LLC, New York.
“Hedge funds are often in the news, but when it comes right down to it, very few people know what they are,” Stephen Roseman, Thesis Fund Management's CEO, said in a news release.
Mr. Roseman said in an interview that the firm was “interested in what the awareness of hedge funds is.”
“You need to know what your customer understands about your investment strategy,” he said.