Single-manager firms ready to raise their global profile
While the single-manager side of the Swiss hedge fund
industry may be a junior cousin to the major fund of hedge fund players, a
significant number of world-class firms – such as Mangart, Alpstar and Antares
- have nevertheless established a solid reputation in the global arena. Their
ability to create innovative products and build a credible track record has
attracted overseas as well as domestic investors. In 2007, Switzerland
accounted for two of the top 20 European launches with the JabCap Multi
Strategy Fund raising an impressive $2.5 billion as well as the Credit Suisse
GTAA Global Macro Fund, which also managed its way into the top ranks by
attracting $400 million in assets.
With around 118 funds accounting for $15.2 billion in
assets, Switzerland is already the third-biggest centre for single-manager
hedge funds in Europe. Yet industry professionals and Swiss authorities...