Money managers under the microscope
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
EU move to curb hedge, private equity manager pay - Financial Times
Ex-head of Santander Swiss hedge arm on Madoff charges - Financial Times
BlueCrest to shift staff to Geneva - Financial Times
The shrinkage of the UK-listed banking sector is providing an interesting trade for Legal & General Investment Management’s $46 million Global Macro fund.
After some dramatic share price falls, banks now account for only around 10 percent of the FTSE 100. According to LGIM’s head of asset allocation David North, this means any potential damage of further bank problems to the index is likely to be a lot less from here onwards.