|
|
Paul Hatwin From Kirsten Bischoff, Opalesque New York:
Derwent Capital created quite a stir earlier this year, with the launch of the first "Twitter fund" in Europe. (See Opalesque TV’s interview with Derwent Founder Paul Hatwin here: Source). The fund has had strong performance since launch, clearing 1.85% in July (against a falling Dow of -2.2% and a hedge fund peer group that cleared only +0.76%), but Derwent is only one of the signals that the financial industry is finally beginning to embrace Twitter as its social media tool of choice.
According to Corporate Insight, Twitter has surpassed Facebook as the most popular social network to be used by financial services firms. 67% of the financial firms tracked by the research firm have a Twitter presence, a 10% growth in 10 months over Facebook (which only grew to a 59% presence, a 3% growth rate).
The research company also says that when it first started tracking social media in the summer of 2008, very few financial firms were experimenting with their presence online, and first moves for many were into Facebook. Since then, Twitter has exploded in popularity in the financial industry and the comfort level in that medium has been palpable, with sites such as StockTwits now boasting over 100,000 users.
Yet still, for hedge funds, the area of social media, is perhaps best utilized as ...................... To view our full article Click here
|
|
RSS
