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Vestra aims to boost hedge ability for offshore funds

Discretionary manager Vestra Wealth Management is looking to strengthen its hedge fund expertise to bolster the firm’s offshore range.

Managing partner David Scott says offshore money comprises 30 per cent of new business. He says: “We are looking to boost expertise in the offshore area. There is a dearth of people who are specialists at the very top end in the hedge fund sector. We do not like fund of funds, we prefer to go direct to the manager and that requires more people and more due diligence in that area.”

“The problem with hedge funds over the last 18 months was they were missold to clients or clients did not understand the liquidity issues and that in a really bad market you might have full correlation with equity markets, as a lot were sold as a panacea to volatility. A good hedge fund manager where the fund is run well and the manager is transparent is fine but it requires a lot of due diligence.”

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