Funds Hub
Money managers under the microscope
Morning Line-Up: All change at fund houses, investors eye property
News and views on the asset management industry from Reuters and elsewhere:
Smith leaves Collins Stewart to focus on Tullett and Fundsmith venture - Reuters
Investors earmark $281 billion for global property in 2011 - Reuters
Hedge fund index to post best year-to-date performance - HedgeWeek
Aberdeen promotes Duce and Kearney - Fund Strategy
M&G’s Simon Bailey quits small cap fund - Fund Strategy
Gilbert among the stranded
Hearts must be pounding at Aberdeen Asset Management.
CEO Martin Gilbert has been caught out by the Icelandic ash cloud and is stuck in the United States after bestowing his largesse on an (it says here) distinguished Regatta in Aberdeen’s stateside home of Philadelphia via a four-year sponsorship deal.
The fear must be that the famously acquisitive Gilbert might not be able to hold to the firm’s recently stated freeze on M&A. The prospect of their CEO, at a loose end, prowling the attractively-priced mid-tier fund firms of the US must send a shiver down the spine at HQ.
Getting Back Their Mojo
In the midst of scarborous political denunciations of the industry and predictions that new regulations could cost UK managers 3 billion pounds we receive some heart-warming news. Hedge funds, according to HFR, have turned it around.
2008 may have been rough as hell, but April 2009 was a banner month. Hedgies exploited volatile energy prices while quants also gained as the industry put up its biggest gain since February 2000 — back when Osama bin Laden was struggling for media attention, oil was at about $20 a barrel and the world lost bluesman Screamin Jay Hawkins.
