Investors, they say, have famously short memories. The
experience of 2008, however, may have snapped them out of their
"Certainly within Europe, many investors are still suffering
from the trauma of 2008, when they were hit by gating and the
Madoff scandal as well as by negative performance," says Dan
Mannix, head of business development at London-based RWC
Partners. "Those three factors made private banks and
traditional high-net-worth allocators to funds of funds
extremely wary of the concept of offshore hedge funds."
RWC, which since June 2010 has been 49% owned by Schroders,
identified this particular development relatively early.
Originally set up in 2000 under the name of MPC Investors, it
was rebranded as RWC in 2007, and today has about $4.5 billion
AUM almost doubled in 2010 alone, and Mannix says that the
principal engine of growth over the...