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New Managers July 2012

Focus - What emerging managers need to know: a review

What emerging managers need to know: a review

IIR and IBC's recent Hedge Fund Startup Forum in London, which Opalesque attended, gave a complete roundup of what emerging hedge fund managers should do and expect. It touched on asset raising, recent trends, the role of the prime broker and the administrator, tax issues, seeding, regulatory compliance, and what investors look for. Here are some of the key points that emerged.

Want to raise assets from institutions?

Ian Morley The basic advice for start-up managers is, don't waste your time talking to institutions," said Ian Morley in the conference's opening remarks. "Raise your initial seed money from friends, family, platforms and those of an unsound mind." Morley was the founding Chairman of AIMA, the hedge fund organisation, and headed various funds of funds. He is Chairman of Allenbridge HedgeInfo, a hedge fund rating and consulting company, and of Wentworth Hall Consultancy.

However, for those who do decide to approach institutions, Morley suggested having the following boxes ticked:

  • A proper business plan
  • Could you run for three years on your initial capital?
  • Will your operational infrastructure meet institutional standards?
  • Do you have a unique selling point in your pitch?

To get over the first hurdles, you need to see if there is a consultant you must deal with first, and if the pension scheme you want to connect with is private or public. The latter ......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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