No constant readers, no one put something weird in your coffee. According to Reuters France's small band of hedge fund
managers, long dismissed as risk-addicted buccaneers in their home market, are
betting on a renaissance as investors burned by stocks and sovereign debt look
elsewhere for returns.
It is a Europe-wide trend but one that matters in France,
where big investors such as insurers and retirement funds - holding 2 trillion
euros assets - are more risk-averse and put less into hedge funds than peers
abroad. The optimism of some hedge fund
managers is even trumping fears for the future of French finance under
Socialist President Francois Hollande, who has pledged to tax top earners more
and crack down on risky trading.
"More French assets are going to go to the hedge funds.
It is inevitable," said Amit Shabi, co-founder of Bernheim Dreyfus, a fund
that makes bets on whether mergers succeed or fail. "The only question is
how long it takes. It may be one year or five."
Other "hedgies" agree, though they acknowledge
there was a wall to climb given investors' lingering risk aversion and as
insurers like AXA (AXAF.PA) and CNP Assurances (CNPP.PA) struggle with tougher
capital requirements under "Solvency II"….
Wait, wait…there’s more at http://in.reuters.com/article/2012/07/11/uk-france-hedgefunds-idINLNE86A01120120711
No comments:
Post a Comment