Money managers under the microscope
Hedge fund diversification
Tuesday’s Treasury Select Committee grilling of the hedge fund industry proved a lively affair (if somewhat hot in a crammed Westminster room), but you have to wonder how well diversified their choice of witnesses is.
As well as Chris Hohn, co-founder of TCI, the Committee picked BlackRock’s head of alternatives Douglas Shaw — a previous employee of TCI.
Another witness was Marshall Wace’s Paul Marshall. Paul was former chief investment officer for continental European equities at Mercury Asset Management – now part of BlackRock.
But then again, this isn’t the biggest of industries to choose from.