Daily Archives: March 5, 2009

Steve Johnson

News that hedge fund managers are increasingly spreading their tentacles into the rigidly regulated world of the Ucits III fund throws up an interesting dilemma for industry participants, or at least those of a male persuasion.

The whacky free-wheeling mavericks of the hedge fund world have traditionally cocked a snook at the dusty old establishment by swanning about the streets of Mayfair and Stamford, Connecticut unashamedly tieless.

Such reckless informality remains near blasphemous in the buttoned-up world of traditional asset management. So how will reformed hedgies react to this thorny sartorial dilemma?

A recent visit to a hedge fund house in the midst of embracing the elixir of life that is Ucits offered a glimpse into the future.

One of your correspondent’s hosts was resplendent in a bright shiny necktie, while his colleague remained brazenly open-necked. But hedgies are nothing if not resourceful. On being challenged as to his dress standards, our tieless friend promptly unfurled a waiting tie from his inside jacket pocket with the flourish of a stage magician, declaring “I’m hedged”.

It’s good to know that at least one industry looks set to thrive amid the economic doom and gloom. It’s time to go long the tie retailers and short the purveyors of chinos.

Ruth Sullivan

Compensation claims, litigation and fund losses? Thinking US culture? Then it may be time to think again, especially for UK fund managers and financial advisers who could soon be facing claims and a wave of litigation from disgruntled investors such as pension fund trustees over recent fund losses.

It is time for UK fund managers to get ready for investor claims according to one risk management firm, Protiviti, which believes lawyers on this side of the Atlantic are poring over claims concerning allegations of misleading marketing of funds, mis-selling and lack of due diligence by managers.

Sophia Grene

The Institutional Money Market Funds Association is funkier than it sounds, apparently. A recent press release announced it had appointed Travis Barker as chairman. Is this the Travis Barker, drummer of punk trio Blink-182 and ex-husband of former Miss USA Shanna Moakler?

Sadly not. The press release goes on to clarify that IMMFA’s man is the Travis Barker who heads up business development for HSBC’s money market funds business and used to work for the Investment Management Association, rather than the lavishly tattooed Californian sticksman.

Still, compliments to IMMFA for its attempts to sell the ever exciting world of money market funds to the youth market.

Are there any other celebrity doppelgangers out there in the asset management business?

About the blog

FTfm is no longer updated but it remains open as an archive.

FTfm's specialist writing team offer their insights into the global fund management industry.

About the authors

Pauline Skypala has been editor of FTfm for four years having previously been deputy personal finance editor. She joined the FT in 1999 and has been writing on savings and investment issues throughout her career.

Steve Johnson, FTfm deputy editor, has been a journalist for 17 years, 10 of which have been with the FT.

Sophia Grene, reporter on FTfm, has been a financial journalist in print and online for 12 years.

Ruth Sullivan has worked as a financial/business journalist and foreign correspondent and for the past 10 years has been at the FT.