It appears the race is underway to offer “long only” hedge funds. A recent Bloomberg article confirms the plans of Lee Ainslie (Maverick Capital) and Bruce Kovner (Caxton) to offer such funds.
The evidence to go long only does not appear to be strong. This new craze seems designed to generate fees for the trader. Additionally, the article speaks of trading “without hedging”. The term hedge fund to begin with is a misnomer. Hedge funds generally speculate for profit. They don’t generally “hedge” as there is a cost with hedging just like there is a cost with insurance.