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Alternative Market Briefing

Pfaeffikon talking (2): Swiss funds of hedge funds industry’s market share stands at 22%

Tuesday, October 02, 2012

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Prof. Dr. Peter Meier
Benedicte Gravrand, Opalesque Geneva:

Hedge funds really suffered during the financial crisis, and one may be tempted to say that this one was very different. But be careful, warned Prof. Dr. Peter Meier, head of the Centre of Alternative Investments & Risk Management, ZHAW Zurich University of Applied Sciences, during an IIR conference in Pfaeffikon, Switzerland, last week. Nothing is really different from the past.

The lesson for Swiss hedge funds and funds of hedge funds (FoHF) is found in the initial problem, which he thinks was a "capital flow bonanza." Too much capital flowed into the industry leading it to a bubble bursting. Times will not be so different in the future. Going back a bit, he said, Switzerland was very innovative in the Eurobond market, the gold market, the mutual funds and the FoHF industries. Each of these fields lost to other financial places in the past decade.

Commenting on systemic transparency, Meier noted that almost all academics agree that more information about these markets is very important. The aim of ZHAW, for example, is to provide more transparency to the public about the Swiss FoHF industry......................

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