Money managers under the microscope
News and views on the hedge fund industry from Reuters and elsewhere:
Veritas offers UCITS III-compliant hedge fund - Investment Adviser
Banks boost lending to hedge funds – Wall Street Journal
Hedge fund manager Jim Chanos sounds warning on China - Seeking Alpha
BNY Mellon’s look at the “Hedge Fund of Tomorrow” has gained some column inches for its confirmation that wealthy Europeans have proven decidedly disloyal to the hedge funds who lined their pockets during the good times.
Rapid exits from European HNWs have apparently created an industry which is more American, and more institutional. BNY Mellon and research firm Casey Quirk expect assets to recover, and more than double within 4 years. Small beer given previous growth rates, but beggars can’t be choosers.
from Global Investing:
Imagine you're an institutional investor holding a great deal more illiquid, price-impaired assets than you're comfortable with. Do you a) hold on to them and pray that the price rebounds, or b) sell now and take a loss, before things get even worse?
This is the dilemma facing institutional investors who went just that little bit too far out along the risk curve in search of extra yield. According to Tom Graf, who heads BNY Mellon's global workout solutions business, clients have to-date largely preferred to wait for markets to rebound, and in some cases this could well make sense.