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Alternative Market Briefing

Veteran hedge fund consultant still believes in value of alternatives

Tuesday, January 22, 2013

By Beverly Chandler, Opalesque London:

Veteran hedge fund consultant Anthony Hodges is back in the UK and back offering his services to hedge funds and their investors. Hodges has spent some 30 plus years in the industry, having started working as a commodity trading advisor developing what were then revolutionary mechanical trading systems back in 1978. He has most recently spent seven years in Dubai, as the Executive Director in charge of the Ruler’s $1.5bn hedge fund portfolio. In the 1980s and 90s he was Managing Director of Rudolf Wolff Fund Management, a multi-manager hedge fund and subsequently he was at Sabre Fund Management in charge of their fund of funds.

In an interview with Opalesque, Hodges pinpoints technology as providing the biggest developments in the hedge fund industry since he joined it. "Technology has added to liquidity which is good for the markets but also has adverse consequences when things like a flash crash happen, but people learn from that. Hedge fund managers are nimble at figuring out what things work and what don’t work" he says.

Looking back to the hedge fund industry’s early days in the UK, Hodges believes it used to be more of a club, with not many participants. "Now it’s more institutional and widely accepted by the pension fund industry" he says. The managed futures sector, where Hodges started out, is now dominated by the big 20 managed futures funds, which haven’t had a very good three to four years in terms of performance. ......................

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