Reuters UK – Funds of hedge fund portfolios are battening down the hatches in the current volatile markets by building up cash or steering clear of strategies with too much exposure to market movements.

With returns in the hedge fund industry hard to come by as the credit crisis continues to hit markets, managers who hold portfolios of hedge funds have become wary of strategies that could be caught out by another sharp downturn.

"These are the toughest conditions I’ve seen in 16 years," said Ken Kinsey-Quick, fund of hedge funds manager at Thames River Capital, who expects billions of dollars more of asset sales by banks.

"We’re expecting a big leg down in all financial assets … We do think in the short-term we don’t want much beta." Beta means exposure to overall market movements.

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Tags: boss, dirty-word, eton-park, existing-service, financial-strength, investment-arm, mayhem, merrill, new-highs, nicola-horlick, recession, wealthy-investors

Reuters – Funds of hedge fund portfolios are battening down the hatches in the current volatile markets by building up cash or steering clear of strategies with too much exposure to market movements.

With returns in the hedge fund industry hard to come by as the credit crisis continues to hit markets, managers who hold portfolios of hedge funds have become wary of strategies that could be caught out by another sharp downturn.

"These are the toughest conditions I’ve seen in 16 years," said Ken Kinsey-Quick, fund of hedge funds manager at Thames River Capital, who expects billions of dollars more of asset sales by banks.

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Tags: boss, dirty-word, eton-park, existing-service, investment-arm, mayhem, merrill, new-highs, nicola-horlick, recession

Accountancy Age- Thames River Capital has introduced new realisation shares on its £276m Thames River hedge fund, run by Ken Kinsey Quick, to give investors an alternative source of tax-efficient income following the government’s changes to the Capital Gains Tax  (CGT).

At board discretion investors will be able to elect to redeem (or have placed) realisation shares in June and December. At the outset their redemption rate is expected to be the equivalent of 5% a year of the starting net asset value, to be paid in two approximately equal distributions.

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Tags: dirty-word, extra-cash, global-investment, london-corporation, medallion