May not so merry for hedge funds

(Reuters): The European hedge fund industry’s top brass meet in glitzy Monaco this week for their annual summit, after a turbulent May that has taken some of the shine off an industry recovering from its worst ever crisis. Executives such as Man Group, CEO Peter Clarke, whose firm last month unveiled a $1.6 billion takeover of GLG Partners and Leda Braga, head of Bluecrest’s ‘black box’ funds, will debate how the industry continues to win back clients in the face of choppy markets and looming regulation. The 2010 GAIM International conference on June 14 to 17 comes after almost a year of steady net client inflows — helped by returns of 20 percent in 2009.