TMCnet – One of the UK’s most respected investment fund managers, Gerald Holtham, believes Wales can create a vibrant cluster in this lucrative sector.<\/p>\n
Aberdare-born Mr Holtham made his name in the City of London as chief investment manager for Morley Fund Management – the UK’s second biggest active fund management company – where he was responsible for managing assets of more than pounds 125bn.<\/p>\n
He said, ‘Hedge funds wouldn’t be the right vehicle, but in the fullness of time I think it would be great if there was a Welsh fund management company, or companies, who could manage some of these funds. ‘Welsh local authorities have pension funds …<\/p>\n
His other previous roles include chief international economist of US investment bank Lehman Brothers.<\/p>\n
Last year Mr Holtham established the first hedge fund based in Wales. Cadwyn Capital is a pounds 30m fund, backed mainly by institutions including the parent company of Cardiff-based Julian Hodge Bank, Carlyle Trust.<\/p>\n
As a macro-fund, Irish Stock Market-listed Cadwyn takes so-called long and short positions in equity and bond indexes globally, rather than trading in individual stocks which can result in higher returns but bigger losses as well.<\/p>\n