Bloomberg – Hedge fund managers gathering in Monaco this week said they have work to do to regain investors’ confidence after the industry’s record losses last year.

“We have to prove as an industry that we can provide absolute returns again,” Pierre Lagrange, co-founder of hedge fund GLG Partners Inc., told some of the 750 delegates at the GAIM International hedge fund conference in Monte Carlo. “We have to show that in the next year or two we can strike back.”

Hedge funds tumbled 19 percent in 2008, the worst year since Chicago-based Hedge Fund Research Inc. began keeping records almost two decades ago, prompting investors to pull money, and funds to shut or impose limits on withdrawals. Funds have started to rebound this year, rising 9.4 percent through May, according to the HFRI Fund Weighted Composite Index.

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Tags: absolute-returns, co founder, composite-index, confidence, decades, delegates, hedge funds, hedge-fund-managers, hedge-fund-research, investors, lagrange, monaco, money, monte carlo, partners inc, record losses, withdrawals

Caymen Net News – Hedge fund managers from across the world are expected to convene in the Cayman Islands for GAIM Ops, a forum that will be held 26-29 April at the Ritz Carlton Resort. GAIM Ops Cayman is the largest hedge fund operational due diligence, compliance, and risk management forum internationally. Industry professionals including Operational Due diligence, COOs, CFOs, CCOs, and general counsel for hedge funds will come to discuss issues affecting the industry.

More than 500 senior delegates are expected to attend the conference, reportedly to tackle issues such as risks that may still be prevalent in the market, and the possible positive outcomes for practioners of operational due diligence.

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Tags: 29-april, cayman islands, compliance, delegates, due diligence, general counsel, hedge-fund-managers, industry professionals, ops, risk management forum, ritz carlton