Funds Hub

Money managers under the microscope

Unstable, greedy, selfish….

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Not the words ringing in my ears as I leave for work every morning, but City of London Investment CEO Barry Olliff’s take on the UK financial sector.

Olliff is taking his company from AIM and onto the main market next month and the new governance guidelines which will apply to the firm as a result have sparked a frank assessment. Take it away, Barry:

Rasmussen gives the bankers both barrels

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RTXBHPA_Comp.jpgPoul Nyrup Rasmussen’s visits to London are always value for money, and today was no exception as the president of the party of European socialists launched into a tirade against banker bonuses.

“When I listen to you it’s like you’re living in another world,” he told an audience of financial executives and journalists at a Chatham House conference after a number of questions from the floor suggested EU plans for tighter regulation might be counter-productive.

Morning line-up

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News and views on the hedge fund industry from Reuters and elsewhere:

RTXCG5SCaymans woos investors with immigration incentives – Reuters

Hedge fund maths on YouTube – NPR

The slow march of new Hedgies – WSJ

Hedge funds won’t die - Institutional Investor

Marshall Wace divvies up £55mln in bonuses – Times

Morning line-up

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Hedge fund stories from the past 24 hours from Reuters and elsewhere:

rtxcg5sWill hedgies switch to Bahrain? – Seeking Alpha

Event driven revival – FT

EU assault on hedge fund pay – Reuters

Blochet quits Brevan – Telegraph

Madoff yard sale: Baseball Jackets, coolers and fishing tackle – Reuters

Boutiques are back

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Starting a hedge fund from scratch has become notoriously difficult in the last couple of years.

rtx9q59Gone are the days, it has been said, when two traders with a terminal could rent out office space in Mayfair and attract a few hundred million dollars. Instead traders are staying put, either in banks (where they can) or in larger hedge funds.

Every Cloud…

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Creative Destruction?As politicians and regulators worldwide prepare a new blueprint to marshall the hedge fund industry, the organisers of the GAIM industry conference release the early agenda for their annual Monaco pow wow.

Unsurprisingly, the June 16-18 summit takes the theme: Transformation In A New World Order. And even less surprisingly, several sessions are set to ponder how to best snag a new breed of circumspect investors, and how to adapt to a new regulatory environment.

RAB Capital

It’s been a tough 2008 for RAB.

As the industry faces its biggest-ever crisis, RAB’s own assets have slumped to just over a quarter of what it ran a year ago, while fees have inevitably fallen too.

Meanwhile it has also taken charges after making acquisitions, only to see their assets fall, and for losses on investing in its own funds.

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