Funds Hub

Money managers under the microscope

Service providers flag hedge fund health

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Fund service providers were back in force at the GAIM hedge funds conference in Monaco this year, a small sign that the industry, while not exactly brimming with confidence, has at least crawled out of the doldrums of 2009.

The service providers including fund auditors, custodians and prime brokers, have drawn in their horns since the early years of the millennium when they were often the main sponsors of cocktails and dinners at large hedge fund events.

They were conspicuous by their near absence at GAIM 2009, as were the free-for-all champagne receptions, gala dinners and so on, as money drained from the industry after hedge funds suffered their worst ever losses in the crisis year of 2008.

One of the big four auditors, for example, brought 22 staff in 2008, but just four in 2009.

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)

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)

Bears stalk hedgie jamboree

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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

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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.

Latest from GAIM

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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:

FRM’s de Gentile-Williams

Blackstone’s Wien

Lombard Odier’s Kohler

Sowing seeds for a healthy hedge fund investment

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Further signs that, for those with cash to invest, there could be some great opportunities to invest in hedge funds.

rtx6ijfMan Group’s RMF Global Emerging Managers portfolio has invested $50 million in 5:15 Capital Management’s* flagship fund and says the opportunity set has never been better.

GAIM 2009: Hendry’s investment outlook

Watch maverick fund manager Hugh Hendry, partner and CIO at Eclectica Asset Management, talk about his investment outlook at this week’s GAIM 2009 hedge fund conference in Monaco.

GAIM 2009: Managers, investors cheer new austerity

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This year’s GAIM conference was far smaller than the three previous summer events, with fewer organized events, no sponsored gala dinner and restricted cocktail sessions where two or three bar staff struggled to satisfy hundreds of thirsty conference-goers

 

Hedgies shun the beachThe fact was duly noted, initially with some concern, by many of the investors and asset managers, several of them grumbling about the limited amount of liquid refreshment available to slake a healthy thirst worked up in the searing Monaco sun.

GAIM 2009: Hendry goes long

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Maverick hedge fund manager Hugh Hendry is rarely far from controversy and his appearance at the GAIM conference in Monaco this week was no exception.

 

HendryHaving been scheduled to give a short talk on the future of capitalism before getting into a longer discussion with Lombard Street Research chief international economist Charles Dumas, Hendry proceeded to overrun his slot, giving his views on pretty much anything to do with the world of investment.

GAIM 2009: Business card largesse signals hedgie sales push

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Journalists have not needed to persecute and cajole hedge fund executives into handing over their business cards at GAIM this year, a sharp contrast to conferences in less troubled times.

 

cardAt past GAIMs, or the Global Alternative Investment Management conferences, certain hedgies went to great lengths to duck journalists, and many even expressed concern or irritation that journalists were allowed in at all.

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