Hedge fund pay varies by strategy
Despite the recent exodus of bankers for hedge funds, there are signs that the hedge fund industry is not the golden goose it once was.
George Sloane, founding partner of London's seventh largest hedge fund, Sloane Robinson, saw his pay fall more than 80% last year, to 3.2m, according to an article in today's Financial Times.
The paper says bonuses last year were low at hedge funds that followed poorly performing strategies such as convertible arbitrage and fixed income. Managers at these funds apparently had to content themselves with mere seven figure bonuses.
By comparison, managers in funds following high performing strategies such as energy, emerging markets, and European long-short equities, are said to have earned in excess of 10m or 20m.
