Money managers under the microscope
The hedge fund industry, it seems, has come out of intensive care and is doing laps around the block again.
After last year’s turmoil, funds are seeing assets flow back, performance pick up and confidence return.
Polar Capital joined the jogging party with net sales of $248 million in the three months to September, more than cancelling out of the net outflows in the previous three months and helping lift assets by 28 percent over the six months. Both the hedge funds and the long-only funds are seeing net inflows.
Meanwhile performance and currency movements have also boosted assets. Hedge fund may still try to sell themselves as a means to smooth the market’s wrinkles, but performance tends to reflect overall movements in equity and credit markets and in turn, sales tend to follow performance.
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.
At 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.