Money managers under the microscope
Despite this year’s rally, opportunities remain in the listed hedge funds sector, according to analysts at Numis Securities.
A year ago the future of the sector looked in doubt, the broker writes in a note out today, as discounts to net asset value reached 40 percent and investors scrambled for liquidity in the wake of the collapse of Lehman Brothers.
But after the sector’s subsequent shake-out, as a number of funds wound up or returned capital, share prices have risen and discounts have closed — they are now at 15 percent.
Nevertheless, stockpickers can still find interesting ideas, the broker claims.
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Hedge funds slash costs to win back investors – Daily Mail
John Paulson tops list of most admired hedge fund managers – Absolute Return
Hedge funds threatened by redemption requests – Hedge Funds Review
Hedge fund assets seen rebounding – Reuters