Money managers under the microscope
Matrix appoints head of risk from Man Group – HedgeWeek
With liquid hedge fund strategies so much in demand, Insparo Asset Management is shortening the redemption terms on its $165 mln Africa & Middle East fund because it ended up buying assets that were more liquid than it had originally expected.
Investors will be able to withdraw up to 25 percent of their cash per quarter, meaning they can fully exit the fund in a year should they wish — surely a welcome move, given it previously took two years.
Many commentators have written the obituary of the hedge fund industry, or of some of its more esoteric or leverage-dependent strategies, during the credit crisis.
So it may be of some encouragement to see a new launch by Invesco Perpetual, announced today.
Two of the world’s biggest fund managers have decided that it may just not be worth their while being associated with running external fund of hedge fund businesses.
Hot on the heels of news that Barclays Global Investors is considering moving its first and only fund of hedge funds to its wealth management business comes news that State Street Global Advisors quietly wound down its own hedge fund unit State Street Capital Management at the end of 2007, which ran some $3 billion in assets.