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Rick Di Mascio by Beverly Chandler, Opalesque London:

Genius in fund management not only exists but it can be measured and identified according to Rick di Mascio, founder of specialist evaluation firm, Inalytics Ltd. Di Mascio was the chief executive and chief investment officer for The Coal Schemes, a pension fund for the employees of the coal industry in the UK. He had at the time $40bn under management and managed the fund in-house with a 100% active portfolio.

He left that job and helped launch an early European long/short hedge fund and then set up Inalytics Ltd, a consultancy which advises investors and fund managers on identifying investment skill. The firm has been in existence for 12 years and works in both the long only and hedge fund arena. For di Mascio, hedge funds offer access to skill. "There is a quorum of entrepreneurial skilful hedge fund managers who like that environment and don't want to work in a large institution or business" he says. "Hedge funds provide an opportunity or an environment for talent to reside, in a repository or safe haven for skilful fund managers."

Di Mascio established Inalytics because he felt that fund management is very much a cottage industry. "I believe that fund management is a bit like a renaissance craft shop. It completely lacks the sort of disciplines that exist in other businesses such as objective feedback and analysis of strengths and weaknesses."

At The Coal Schemes, di Mascio used metrics to analyse perform......................

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