Money managers under the microscope
Out for the count
A bit delayed this, but drawing your attention to Parvathy Ullatil’s entertaining look at hedge fund managers going at each other with fists and gumshields, rather than outlandish claims of stratospheric bonuses. Photos from Reuters pictures.
But the mood at the hedge fund “fight night”, held in Hong Kong late on Thursday, was exuberant, as managers and executives slugged it out, raising for charity nearly HK$700,000 ($90,300) from auctions.
Asian hedge funds have returned close to 22 percent year to September, outperforming their U.S. and European counterparts, a year after the Lehman Brothers’ collapse rocked the industry.
Hedge funds 3A scored big with their competitor, John “Headcount Reduction” Crane, who at 49 was the oldest to jump into the ring. Crane beat out his much younger rival, Link-ICAP’s Justin “Carve ‘em Up” Jones on the judge’s decision.
“I really had to work on resisting the urge to kick my opponent,” said Crane, a long-time practitioner of Thai kickboxing.
Training intensified in the final weeks and most of the night’s boxers seemed relieved to break free off its rigours.
“No regrets at all. Nothing was broken and no lasting pain,” said 46-year old Benoit “La Tornade” Descourtieux who manages the Calypso Asia Fund.
Descourtieux was gracious about his loss to Nomura’s Jesse Kavanagh who recently underwent heart surgery.
UPDATE: Reuters TV has helpfully put up some footage of the bouts referred too above and some interviews with the victors and vanquished. See below for a sample.