Money managers under the microscope
The number of such firms it houses fell to 55 from 65 as several firms’ assets fell below the $1 billion mark.
While not an indicator that firms are moving because of next April’s 50 percent tax on high earners, some will argue it shows the UK’s prime position as home to the biggest European hedge funds is not unassailable and could be further hurt by the tax plans.
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.
Ladies and Gentlemen: you may leave your ball gowns and tuxedos at home tonight.
That’s the message the badly battered hedge fund industry is sending its managers, lawyers and accountants who are planning to attend Hedge Funds Care, one of the industry’s most successful charity events in New York on Wednesday evening.
In the wake of the industry’s 19 percent loss last year, organizers scrapped the annual black-tie dinner in favor of a cocktail party, Kathryn Conroy, the charity’s executive director said.