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Anne-Sophie D'Andlau Benedicte Gravrand, Opalesque Geneva:
French hedge fund managers find most of their assets abroad as hedge funds suffer an image problem on their own soil. The reasons cited are the lack of investing experience, levels of liquidity and transparency, and unfavourable regulations.
Anne-Sophie D’Andlau said at the recent Opalesque Roundtable in Paris, that 90% of her investors were non-French. She hopes to attract UK investors in the near future "as more of them are willing to invest on the continent, since there are more funds to look at." She is the co-founder and managing partner of CIAM, a Paris-based firm that manages a SIF fund specialised in merger arbitrage, incepted in September and managing $50m.
Lyxor’s assets come mostly from international clients too, and only about 11% from France. The firm is experiencing growth from institutions from Northern Europe, as well as from North America and Japan. Nathanael Benzaken, who is responsible for the development of the managed account platform at Lyxor Asset Management, can see Paris become an attractive place for new hedge fund managers, a few years from now, provided banks reduce risk in their prop trading activities – an incentive for traders to strike on their own. (See last week’s Opalesque Exclusive: Lyxor to launch a U...................... To view our full article Click here
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