AIMA VIEW: In defence of hedge funds
Mon Apr 16, 2012
Institutional investors are taking a sophisticated and long-term view of hedge funds and the part they can play in a modern investment portfolio
Andrew Baker, chief executive officer, Alternative
Investment Management Associiation
This time last year, I wrote in the HedgeFund Intelligence
Global Review how the financial crisis had in essence forced
the hedge fund industry to justify its existence. I explained
how critics in political and policy-making circles claimed the
industry contributed little to society or to the broader
economy, and that such views unfortunately had influenced the
regulatory and legislative debate. I went on to outline how we
had set out to counter such hostility by seeking to explain to
policy-makers the value of hedge funds to markets and to
society at large.
Twelve months on, the industry is compelled to defend itself
again. This is because of criticism in the press of the
performance figures for 2011, and the publication of a new,
highly contentious polemic about the industry.
The performance figures showed, of course, that the
ISSN: 2151-1845 / CDC10004H
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