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Amanda Haynes-Dale Benedicte Gravrand, Opalesque Geneva:

Opalesque’s Greg Despoelbech went to meet a pioneer of the hedge fund industry in New York, Amanda Haynes-Dale, founder of the fund of hedge funds boutique Pan Reliance Capital Advisors.

Mrs. Haynes-Dale, who has been managing money for 35 years, opened her first business, a brokerage firm, in the early 1980s. She then had hedge fund clients and invested in them on an informal basis. On 1st January 1991, she created her first fund of hedge funds (FoHFs), the Pan Multi-Strategy fund – thinking its risk adjusted returns would complement her long-only portfolios.

Allocating in the late 80s and early 90s was a different experience from what it is now, she said during the Opalesque video interview: there were none of the Hedge Fund Research-type categorisations and there were only a few big names and many smaller funds… "a couple of guys and a phone," many of whom with "just a few million dollars under management." She focused on their background and investment philosophy, and of those that attracted her attention, two stand out: Mark Kingdon, president of the $4bn Kingdon Capital Management, an investment management company which he founded in 1983; and David Einhorn, president of Greenlight Capital, a long-short value-oriented hedge fund, which he began with $1m in 1996. Einh......................

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