According to a survey conducted by market research firm Prince & Associates, in conjunction with Marhedge, the average personal spending habits in 2005 of hedge fund managers with a net worth of more than $30 million were as follows:
Fine art: $3.99 million
Yacht charters: $429,700
Jewellery: $376,400
Hotels & resorts: $304,900
Watches: $271,300
Fashion and accessories: $204,200
Traditional spa services: $124,000
Electronics: $99,300
Entertaining friends: $76,700
Wine & spirits for the home: $48,900
Managers are not just indulging themselves, though. The average manager donated almost $2 million in personal money to charity, and 70% of those surveyed said that they had dedicated time to one or more non-profit ventures. All results are published in the book Fortune’s fortress: a primer on wealth preservation for hedge fund professionals.
