REUTERS NEWS ADVISORY For News Week of February 28, 2011 ATTENTION: Business, Government and Finance Editors/ReportersREUTERS FUTURE FACE OF FINANCE SUMMIT In Washington, D.C., New York, London and Hong Kong Monday, February 28, …
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Reuters Future Face of Finance Summit, Feb 28 – Mar 2, 2011
REUTERS NEWS ADVISORY For News Week of February 28, 2011 ATTENTION: Business, Government and Finance Editors/ReportersREUTERS FUTURE FACE OF FINANCE SUMMIT In Washington, D.C., New York, London and Hong Kong Monday, February 28, …
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Reuters Future Face of Finance Summit, Feb 28 – Mar 2, 2011
Professor Harry Kat of London’s Cass Business School says investors can earn greater returns at a fraction of the cost by replicating hedge fund performance.
In, “Hedge-Fund Returns Can Be Matched Without Fees”, Bloomberg gives us the low down on Kat’s findings.
Synthetic funds would have outperformed 82 percent of the 2,000 hedge funds and 500 funds of hedge funds studied by Kat, a former head of equity derivatives at Bank of America Corp. Most of the gains generated by hedge funds were eaten up by fees, typically 2 percent of a portfolio and 20 percent of profits, he found after studying 15 years of monthly fund results.
“In most cases, managers aren’t good enough to make up for the massive fees that they charge,” said Kat, a professor of risk management at Cass, part of London’s City University, in an interview. “The combination of excessive fees and minimal opportunity in the market makes alternative investments really doubtful in terms of their value for portfolios.”
The story goes on to mention that Professor Kat’s “Fund Creator” system will replicate the performance of any fund and has been shown to return 10 percent a year. This compares with returns of 6 to 7 percent after fees for the average hedge fund studied.
Sound realistic?
Update: The All About Alpha blog has included a link to Kat and Palaro’s research papers on hedge fund returns. To read the papers, open the links and scroll down to the “SSRN Electronic Paper Collection” heading. There you can choose a source from which to download the document in PDF format.
(AP:LONDON) The cavernous ballroom of a London hotel is buzzing with the sound of networking and deal-making between hundreds of bankers, lawyers and investors from the Middle East, Asia and Europe.
NEW YORK (Reuters) – Stuart Bray, a City of London financier turned environmentalist, is using his fortune and skills to develop novel ways to fund conservation, starting with teaching tigers to hunt in …
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Tiger finance, a banker’s effort to fund survival
The SEC has approved an AMEX listing of the Barclays iShares Silver Trust. The exchange-traded fund will be the first to track the price of silver, with each share representing 10 ounces of silver. The iShares silver tracker will be physically backed by silver bullion held in London vaults.
See more info regarding the silver ETF here.
* Fund to target internal rate of return of 15 percent * Targets 100 million pounds in fundraising * To be first of its type quoted on London Stock Exchange LONDON, Jan 26 (Reuters) – Duet Private Equity …
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Duet Group targets finance gap with mezzanine fund
Using Structured Interviews For Selecting And Developing Employees
by: Andrea Watkins
The purpose of structured, competency-based interviewing is to help organizations hire and promote people who will succeed in their jobs. Different jobs require different competencies. Competencies are important because they can be used to improve performance (both individual and organizational) in at least three ways: selection, feedback and development.
1. Selection: Competencies can be used to guide recruitment (the company seeks to identify recruiting sources rich in critical competencies) and selection (the company builds structured interviews around the critical competencies). If new employees can be hired into the job already possessing most, if not all, of the critical competencies, they will be more successful more quickly.
2. Feedback: Research has shown that employees receiving feedback about their strengths and weaknesses improve their performance more than those who do not (Smither, London, Vasilopoulous, Reilly, Milsap & Salvemini, 1995). Furthermore, it appears that those who need it most are those who benefit the most from feedback. Competencies provide a useful framework for organizing job-relevant feedback.
Fintag brings us news of rising costs for hedge funds in London, and the resultant look to the Continent some hedgies might be taking in search of lower taxes and costs.
Fintag has set their sights on Zurich as a very likely candidate for a new home. Why?
Probably has a lot to do with the lower costs of living and running a business, quality of life, and a possible low tax environment for hedge funds that might come about as a bid to lure business from London.
In any event, we’ll let you get their take on it. Click the link above for Fintag’s site to see their comments on this possible spread trade.
