Friday, 28 November 2014
Last updated 6 hours ago
Oct 9 2008 | 10:57am ET
At least one hedge fund manager is calling it quits for now. Arnab Banerji, the former Landsdowne Partners portfolio manager, has reportedly left the London-based hedge fund shop for greener pastures—literally.
Banerji is leaving the volatile industry to focus on his money-losing garden products company, Imajin, the Financial Times reports
The move led Lansdowne, one of London’s biggest hedge fund managers, last month to allow investors an early exit from its emerging markets fund, which Banerji set up. Most investors chose to leave the fund, cutting its assets from a peak of more than US$500 million, including a large managed account, to about US$50 million.
According to the FT, Imajin’s $17 million annual revenues pale in comparison to the income of hedge fund managers, including those from Landsdowne, which revealed it paid junior staff an average of £269,000 (US$469,467) in 2006. Its partners’ salaries were undisclosed.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
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