Money managers under the microscope
Bright spots amid the gloom
The gloom in the hedge fund industry is well-documented but there are nevertheless bright spots.
HSBC has launched a global currency fund – technically a Ucits 3 fund rather than a hedge fund but employing the same tactics — trying to make money out of an asset class it sees as “untainted” by the credit crisis.
Meanwhile, BNP Paribas has launched the Comac fund, tracking a long-short index of commodities which is up 67.8 percent since April 30 2008.
Plenty of funds may be closing in the industry, but in some form the hedge fund industry — which can morph into pretty much any money-making opportunity it likes – is likely to survive.