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Stefan Heieck Benedicte Gravrand, Opalesque Geneva:
The fund managers sitting around the recent Opalesque Roundtable in Pfaeffikon, Switzerland, agreed on how tough the environment is – and will be – for hedge fund start-ups.
They said that (1) focusing on performance in the initial period, (2) being transparent, (3) demonstrating a high level infrastructure and employing top service providers, (4) and avoiding wasting time on appearances will increase their chances of success in a market place where investors are – rightly so – thinking twice about where to place their money.
Some are also expecting more start-ups going forward, which may create an even more competitive environment. But there is still hope for emerging managers, as some investors, tired of bloated underperforming funds, might start moving money to newer and smaller managers, a trend that was confirmed by a recent study by Barclays Capital. Also, some large institutions are starting to seed new funds.
If you have all your licences and have been active in the business for a while, all should be easier for you, said Stefan Heieck, co-founder of hedge fund boutique HSCA. But "by 2013, the market regulation will get quite tough especially for start-ups without a two to three year track record."
His firm l...................... To view our full article Click here
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