Investec, Jupiter Chiefs Hit Back At FSA Critique

Nov 12 2012 | 12:59pm ET

A couple of hedge funds are not taking some pointed regulatory criticism lying down.

Ed Harley, head of the U.K. Financial Services Authority's asset management department, last week blasted hedge funds for failing to put client interests first. Harley said that many firms were merely "paying lip service" to that standard.

Not so, two hedge fund chiefs say.

"The FSA is right to make sure the industry sticks to the standards set for it," Investec Asset Management CEO Hendrik du Toit told Financial News. "But, by any standards of any industry, I would challenge anyone to argue that it is not largely aligned with the interests of its clients."

"We are the guardians of people's savings, so we need to be worthy of their trust," Jupiter Fund Management CEO Edward Bonham Carter added. "The industry is not perfect. But it is in a better place than it was 10 years ago."

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...