Axa seeks flexible hedge funds in tricky markets
Friday, October 2, 2009 : PermalinkReuters – Opportunities abound for equity and credit-focused hedge funds, according to Axa Investment Managers, but the firm is favouring nimble players able to adjust strategies quickly in still uncertain markets.
Chris Manser, global head of funds of hedge funds at Axa IM, part of insurance giant Axa,said he likes managers who can switch quickly between a net long position — where stocks owned outweigh those it is shorting in anticipation of a fall — and a net short position.
He is shunning managers who closely adhere to a net long or net short position and who would perform better during a long term rally or bear market.
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