Money managers under the microscope
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Myners defends hedge funds against EU directive - Daily Telegraph
2009 gains do not guarantee performance fees for hedge funds - Wealth Bulletin
Hedge fund lawyer dies in Russian jail - Guardian
For those tiring of the squabbling over the European Union’s AIFM directive, at least the rhetoric continues to impress.
The EU threat has certainly made pension funds more bullish, and this week they were threatening to gang up on “arrogant” hedgies to force through far stricter terms on performance fees. “Institutional investors are totally disillusioned with funds not delivering what was on the tin,” Philip Read, chairman of the British Coal scheme, told chastened managers at the Hedge 2009 conference.