With the hedge fund industry becoming such a central feature
of the global markets, there are some fascinating changes in
how managers are now presenting themselves to investors -
especially outside the United States. These days, even some of
the most intensely private and low-key of managers have clearly
decided to adopt a much more positive, proactive approach to
marketing and investor relations.
Taking their cue from that famously low-profile pioneer,
Alfred Winslow Jones, hedge fund managers in America have
tended to jealously guard their privacy. There have been
various reasons - not least to protect competitive advantage.
American managers have also had to be mindful of rules on
private placements in the United States, so as not to fall
afoul of the SEC. Taken together, these factors have helped
earn the industry a reputation for secrecy, something that has
led hedge funds to be viewed with suspicion but that