Hedge fund gurus score well on rich list
Source: Agencies |
May 7, 2011, Saturday
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Print Edition
Print Edition
Financier Nat Rothschild, scion of one of the world's most famous banking dynasties, has topped a table of Britain's wealthiest hedge fund managers after tripling his fortune in 2010, the Sunday Times Rich List shows.
The mining and energy mogul, who made his debut in the eagerly anticipated annual survey last year, joins an elite club of billionaire hedge fund managers that also includes Robert Miller, the septuagenarian UK-based founder of Sail Advisors.
Both men are worth 1 billion pounds (US$1.64 billion) each, making them the 67th richest individuals in Britain.
The annual Rich List profiles the 1,000 wealthiest people who are born, based or hold a major proportion of their fortune in Britain. It is based on identifiable wealth such as land, property and shares in quoted companies, but excludes cash in private bank accounts.
This year there are more than 50 hedge fund managers among Britain's richest 1,000 people, reflecting a broad uptick in investor confidence in the sector after more than two years in the doldrums.
Investors pulled more than US$280 billion net from hedge funds in 2008 and 2009, data from Hedge Fund Research shows, but industry assets had rebounded to US$1.92 trillion by the end of 2010 as appetite for higher risk investment recovered.
Brevan Howard's Alan Howard also made the ranks of Britain's top 100 wealthiest people, after adding 100 million pounds to his 975 million pound fortune last year.
Other high-flyers include Michael Hintze of CQS, who jumped 91 places to number 138 with a fortune of 550 million pounds.
The mining and energy mogul, who made his debut in the eagerly anticipated annual survey last year, joins an elite club of billionaire hedge fund managers that also includes Robert Miller, the septuagenarian UK-based founder of Sail Advisors.
Both men are worth 1 billion pounds (US$1.64 billion) each, making them the 67th richest individuals in Britain.
The annual Rich List profiles the 1,000 wealthiest people who are born, based or hold a major proportion of their fortune in Britain. It is based on identifiable wealth such as land, property and shares in quoted companies, but excludes cash in private bank accounts.
This year there are more than 50 hedge fund managers among Britain's richest 1,000 people, reflecting a broad uptick in investor confidence in the sector after more than two years in the doldrums.
Investors pulled more than US$280 billion net from hedge funds in 2008 and 2009, data from Hedge Fund Research shows, but industry assets had rebounded to US$1.92 trillion by the end of 2010 as appetite for higher risk investment recovered.
Brevan Howard's Alan Howard also made the ranks of Britain's top 100 wealthiest people, after adding 100 million pounds to his 975 million pound fortune last year.
Other high-flyers include Michael Hintze of CQS, who jumped 91 places to number 138 with a fortune of 550 million pounds.
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