As the global investor market prepares for 2011, funds of funds
face a number of battles - not least the idea that the classic
model is dead.
If that is the case, then with two legacy businesses, namely
RMF Investments and Glenwood Capital Management, Luke Ellis,
the new head of the $14.2 billion in multi-manager investments
at Man, should be regretting his move back to the coal face of
funds of funds as the replacement for Herbert Item.
But instead, un-fazed by history, Ellis, former managing
director of Financial Risk Management and non-executive
chairman of GLG's Multi-Manager business, knew exactly what he
was taking on and relishes the idea of building what he called
the next generation of multi-manager operations.
Ellis, who has more than 25 years' investment management
experience, was set to join Man even before the GLG deal was