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It is a Europe-wide trend but one that matters in France, where big investors such as insurers and retirement funds - holding 2 trillion euros ($2.5 trillion) assets - are more risk-averse and put less into hedge funds than peers abroad.
The optimism of some hedge fund managers is even trumping fears for the future of French finance under Socialist President Francois Hollande, who has pledged to tax top earners more and crack down on risky trading.
"More French assets are going to go to the hedge funds. It is inevitable," said Amit Shabi, co-founder of Bernheim Dreyfus, a fund that makes bets on whether mergers succeed or fail. "The only question is how long it takes. It may be one year or five."
PARIS |
(Reuters) - France's small band of hedge fund managers, long dismissed
as risk-addicted buccaneers in their home market, are betting on a
renaissance as investors burned by stocks and sovereign debt look
elsewhere for returns.It is a Europe-wide trend but one that matters in France, where big investors such as insurers and retirement funds - holding 2 trillion euros ($2.5 trillion) assets - are more risk-averse and put less into hedge funds than peers abroad.
The optimism of some hedge fund managers is even trumping fears for the future of French finance under Socialist President Francois Hollande, who has pledged to tax top earners more and crack down on risky trading.
"More French assets are going to go to the hedge funds. It is inevitable," said Amit Shabi, co-founder of Bernheim Dreyfus, a fund that makes bets on whether mergers succeed or fail. "The only question is how long it takes. It may be one year or five."
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