It has never been harder to assemble a credible fund of
hedge funds team. Such is the growth in this fast-expanding
asset class and in the underlying hedge funds themselves that
there is an acute shortage of qualified analysts, portfolio
managers and marketing specialists.
Inevitably the result is simple: the cost of hiring anybody
with experience is rising rapidly, with established fund of
funds companies furiously trying to poach experienced analysts
As a result many top-rated analysts are now out of the price
range of most startup funds of funds. Unless, of course, equity
is on offer.
Happily people in other functions, such as risk control and
operations management, are easier to find. If you are willing
to be a little bit creative about where you look for your
investment team they need not cost you an arm and a leg.
Overall, building a credible fund of funds...