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Komfie Manalo, Opalesque Asia:

The number one discipline of a good hedge fund manager is knowing and limiting the assets they are going to take on, claimed Ian Hamilton, founder & group chief executive officer of hedge fund specialist administration firm IDS Fund Services.

Speaking during the latest Opalesque Geneva Roundtable, Hamilton, who has spent some 40 years in the investment industry, said he noted that too few managers want to turn away money.

He said, "The incredibly successful managers I have seen have often closed to new investors, and they deliver. It’s very nice to get huge amounts of assets, but then cut your cloth and your mandate accordingly. The way institutions are going into mega sized hedge funds is wrong. When they experience the poor performance often associated with size, they will then blame it on hedge funds in general."

Hamilton was commenting to a statement by Michaël Malquarti, head of manager research and alternative investments SYZ Asset Management SA, who pointed out that the business of managing hedge funds has become much more fragile. Malquarti added that while managing hedge funds has always been fragile and very insecure, "recently we witnessed some very high profile funds ......................

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