(Reuters) – Swaggering hedge fund managers, long known for ignoring client complaints during years of strong performance, are trying something new: listening.
The shift was evident at the annual SkyBridge Alternatives Conference in Las Vegas last week, where a group of money managers humbled by losses or meager returns acknowledged that they needed to do more to satisfy investors. “Expectations about a hedge fund manager’s way of conducting business has become more demanding — and perhaps rightfully so,” Kenneth Tropin, founder of $12.1 billion Graham Capital Management, said during a panel discussion Wednesday at the Bellagio hotel and casino.
“Every hedge fund manager has had to make the effort to be much more transparent, a much better communicator and more negotiable.”
Humbled hedge fund managers acquiesce to clients at Vegas confab
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