I can't say I have ever seen one..but why not? We all know for small accounts (this is proably where it becomes aproblem for mnaged money..but surely say a group of 10 people at $100,000 each it's fine?) day trading is where you can hit the biggest % wins (obviously you still need to trade good) So imagine i have $100k to let some pro invest for me 1) Huge Mutual Fund: 6% per annum. 4 % fees. 2) Hedge Fund: +15% 3% fees. 3) Good day trader: +70%, 10% fees. (4.5% per month compounded. No gambling) Which one would I rather invest in? At least if you capped it at say $1m you wouldn't have to psend your whole life chasing Assets to manage. It's a tiny micro niche to managed money....or is there a huge flaw?