Funds Hub
Money managers under the microscope
Know your hedgie – Pix from Monaco
Reuters snappers have been grabbing some headshots of hedge fund managers at GAIM this year. Thought we’d showcase a few here:
Leda Braga, President of BlueCrest Capital Management, attends the GAIM International (Global Alternative Investment Management) hedge fund conference in Monaco, June 15, 2010. REUTERS/Sebastien Nogier (MONACO - Tags: BUSINESS HEADSHOT)
Peter Clarke, CEO of Man Group PLC, attends the GAIM International (Global Alternative Investment Management) hedge fund conference in Monaco, June 15, 2010. REUTERS/Sebastien Nogier (MONACO - Tags: BUSINESS)
Bernard Oppetit, Chairman of Centaurus Capital, attends the GAIM International (Global Alternative Investment Management) hedge fund conference in Monaco, June 15, 2010. REUTERS/Sebastien Nogier (MONACO - Tags: BUSINESS HEADSHOT)
Morning Line-Up: Rich desert hedgies, Calpers seeks cash injection
News and views on the fund industry from Reuters and elsewhere:
Hedge funds rely less on the rich - Reuters
UK platform reforms inconsistent with RDR, says Cofunds - Fund Strategy
Calpers asks for more money - Reuters
Investors prefer ETFs to index funds - Fund Strategy
Bears stalk hedgie jamboree
After 20 percent gains in 2009 and a year of inflows, you might expect the mood in Monaco at the annual GAIM hedge fund conference to be jubilant. Indeed, Martin de Sa’Pinto has identified some crucial developments in delegates’ late-night carousing which point to some renewed confidence.
Managers are certainly in a better mood than last year, when the industry had been through a battering from markets and disillusioned investors.
Monaco nightspots hint at hedge fund comeback
It may seem tenuous, but the small number of delegates present in Monaco’s Grimaldi forum on Wednesday at the start of the second day of the GAIM hedge fund conference is a clear indication that the industry is feeling renewed confidence after the gloom of last year.
The reason for the poor morning turnout is quite simple. A good proportion of the attendees didn’t make it to bed until at least 3.30 a.m. on the first full conference day.
from Global Investing:
What fund managers think
Bank of America-Merrill Lynch's monthly poll of around 200 fund managers had a few nuggets in the June version, aside from the usual mood-taking.
Gold is too expensive. A net 27 percent of respondent thought it overvalued, up from 13 percent in May. Then again, the respondents to this poll have reckoned gold is too pricey since September 2009.
Morning line-up: GAIM, GAIM and Dublin boom
News and views on the fund industry from Reuters and elsewhere:
Hedgies focus on capital preservation – Reuters
GAIM gaze turns to transparency and fees – Reuters
Mallaby reviewed – WSJ
Returns to halve? – FT
Newcits job boom for Dublin? – Financial news
Latest from GAIM
Our reporters have been scouting round the halls at the GAIM hedge fund conference in Monaco today. Here’s a taste of what we’ve seen so far:
Man Group CEO rules out big deals after GLG buy
Hedge funds to manage $3 trln by 2013-consultant
FACTBOX-The European hedge fund industry
PREVIEW-May losses cloud hedge fund summit in sunny Monaco
And some links from Reuters Insider coverage:
Live from the City Oscars 2010
I’ll be at the Guildhall in London today for the latest run down of the financial sector’s favourite brokers, analysts and fund managers.
Morning line-up: Costly coffee, a compromise and Dutch pensioners
Hedge funds hit by rise in coffee price - Daily Telegraph
May losses cloud hedge fund summit in Monaco – Reuters
Implications of fund directive unclear says Swiss association - hedge week
EU considering funds compromise - New York Times
Cavenagh Capital launching fund for Dutch pension money - Global Pensions
Lipper’s line on losses in may
We’ve already had confirmation that hedgies had a rough May, taking a buffeting from volatile markets, but we have a bit more detail from the latest Lipper report summarised with links to the full shebang below. The Lipper approach differs a bit from the rest as they don’t weight the index to funds’ asset levels, in theory giving a cleaner take on performance. One interesting note is the loss for event-driven strategies, skewered by a poor month for high-yield bond markets.
For the record, Lipper is a Thomson Reuters company:
LIPPER HEDGE FUND PERFORMANCE SNAPSHOT May 2010
The Snapshot contains early Lipper hedge fund performance readings (based on Lipper Global Hedge Classifications) as at the end of May 2010.
