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New Managers December 2013

News & Perspectives: Latest relevant news, views and findings

Hedge fund start-ups are competing with banks

New hedge funds have become scarcer as banks fight to retain star traders with bigger pay packages according to the Financial Times. John Griffiths, member of the regulatory compliance team at Kinetic, the consultancy, attributed the fall in new funds to investment banks “facing increasing competition for staff.â€

On the other hand, the hedge fund industry compensation rose for the 3rd consecutive year in 2013. Average compensation rose between five and ten percent, with wide categorical and performance driven disparity, and with Portfolio Managers, Senior Analysts and Risk Managers at top performing funds seeing the highest relative increases, according the latest 2014 Glocap Hedge Fund Compensation Report, released by Glocap and HFR. Emerging hedge fund managers and specialist credit managers dominate fund raising in 2013

Vantage Point, the third party fund placement group, has reported on key trends in fundraising during the second and third quarters of 2013.

One of the trends that the firm has observed is a move from larger hedge funds to emerging funds. “During the height of the financial crisis most investors moved assets to larger, presumably more stable funds. We are now seeing that trend reverse with more institutional investors dedicating a portion of their portfolio - in certain cases significant portions - to smaller, emerging hedge funds as the evidence continues to mount that funds in years one to five historically outperform their seasoned peers†they write.

The definition of ‘emerging manager' varies greatly by investor: from sub $1bn to sub $250m, Vantage Point observes. “It is important to k......................

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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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