‘Tyranny of Distance’ Hampers Australian Hedge Fund Revival
Friday, November 6, 2009 : PermalinkBloomberg – After a decade running Sydney-based hedge fund Commodity Strategies Ltd., founder Rob Holroyd is planning a move to New York or Switzerland in search of cash.
Investors have increased due-diligence after Bernard Madoff’s Ponzi scheme, and scrutiny is likely to be heightened following hedge-fund manager Raj Rajaratnam’s insider trading case, Holroyd said. That’s hampering his bid to boost assets to $2 billion from about $170 million as overseas investors aren’t willing to spend the time and money needed to complete reviews of Australian-based funds, he said in an interview from New York.
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