Hedge Fund Managers Claiming Record Salaries

by Philip Morton, Investors Offshore.com

30 October 2006

The 2007 Hedge Fund Compensation Report, published by New York-based recruitment firm Glocap Search, Institutional Investor News and Lipper Hedge World, has revealed that wages for some senior hedge fund managers in the United States this year reached $1.5 million.

Speaking to Hedge World with regard to the report, Adam Zoia, managing partner at Glocap stated that:

"There is this perception that hedge funds are not having a great year", going on to explain to the news service that in actuality, hedge fund performance has rallied over the last couple of months, in parallel with the increasingly bullish stock market.

He went on to add that a dearth of adequately qualified investment professionals goes some way towards explaining the rapidly increasing compensation levels of hedge fund managers, observing that:

"The amount of dollars under management has continued to increase, and yet, the pool of experience has not kept pace."

Over a three year period, (2003-06), Glocap compiled data from 850 hedge fund professionals working at 325 hedge fund firms.

Recommended