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Money managers under the microscope

Every Cloud…

February 23, 2009

Creative Destruction?As politicians and regulators worldwide prepare a new blueprint to marshall the hedge fund industry, the organisers of the GAIM industry conference release the early agenda for their annual Monaco pow wow.

Unsurprisingly, the June 16-18 summit takes the theme: Transformation In A New World Order. And even less surprisingly, several sessions are set to ponder how to best snag a new breed of circumspect investors, and how to adapt to a new regulatory environment.

There are some introspective moments scheduled too; some 25 minutes are given over to an examination of governance and risk management lessons learned in the wake of the Madoff scandal. And after we heard last week that some investors are already convincing funds of funds to drop a layer of performance fees, another 25 minute slot will have delegates hear how they should be aligning compensation with the interests of investors.

But in an industry which prides itself on finding brass amid the muck, it is comforting to note that this year’s GAIM will kick off with a look at how to exploit upheaval very close to home.

The opening session promises to pick out the survivors and opportunities among emerging, transforming and deconstructing alternative investments firms. Or as GAIM puts it ‘New Opportunities in the Creative Destruction of an Industry.’

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