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Alternative Market Briefing

Industry experts predict more hedge funds allocations, more market discipline and due diligence in 2010

Friday, January 15, 2010

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From Precy Dumlao, Opalesque Asia.

At a recent seminar sponsored by international offshore firm Walkers held in New York City, several major financial experts predicted more allocations to hedge funds this year at the expense of equities. At the same time, the experts also anticipated greater market discipline from investors and an increased focus on due diligence by providers and custodians.

Todd Groome, non-executive chairman of the Alternative Investment Management Association (AIMA) said that among the positive trends to be seen in the hedge funds industry are the new allocations to a variety of strategies. He pointed out that in Asia, managers are looking to at least 75% new allocations coming from the U.S., especially from pension funds. The rise in hedge fund launches also signifies a return in confidence, he said.

"Market discipline from investors is back with a vengeance. Investors are asking for greater transparency. They want to use the transparency to create a more idiosyncratic contract for their particular situation and a particular strategy," Groome pointed out.

Joel Press, of Morgan Stanley, said the industry should expect hundreds of smaller start-ups in 2010 adding that seeding was more important than ever. He predicted that the hedge funds industry would be worth $3tln four years from now, compared to the current estimated value of $1.8tln.

"There is no need for hedge fund fees to go down," Press said. "If you lo......................

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