Telegraph Op-Ed: "Hedge Funds Can Benefit Us All"

In a recent opinion piece in The Telegraph, Ben Wright notes that despite the criticism directed at hedge funds in the media, there's a strong case to be made for how they can benefit us all.

In the piece, Wright notes that high-profile philanthropists in the hedge fund industry such as David Harding of Winton Capital and Michael Hinzte of CQS are making a real difference with their money:

"In 2011, the list of Britain’s biggest taxpayers was topped by a hedge fund manager: David Harding, the founder of Winton Capital. He paid £34m in tax on his income of £87m – enough, as one newspaper pointed out, to fund the salaries of 1,500 newly-qualified nurses.

"Of course, many rich hedge fund managers are also notable philanthropists. Michael Hintze, founder of London-based CQS, has given money to more than 150 charities, ranging from the Trinity Hospice in south London to the restoration of the Pauline Chapel in the Vatican.

"But the success of the hedge funds is about more than the individuals – finance is now one of the UK’s main export industries employing many thousands of people and responsible for many billions of pounds flowing each year into the Treasury."

TCI invited on board Spain airports sell-off

The FT reports that Chris Hohn's Children's Investment Fund has been invited to become a key shareholder in Spain's state-owned airports operator, Aena Aeropuertos, as it prepares for privatisation next month:

Mr Hohn, whose fund is one of the world’s largest, is best known for taking big stakes in companies and challenging management on strategy and performance. However, Aena, which manages all of Spain’s 46 airports, has been turned round under current management, and last year delivered its first net profit of €597m.

TCI will be joined as reference shareholder by Spanish companies, Ferrovial and Grupo Alba.

 

Insight from Michael Hintze, Chris Hohn at Delivering Alpha

Institutional Investor  carries a recap of some of the insights shared at the third annual Delivering Alpha conference.  According to the report, CQS founder Michael Hintze shared his thoughts on the impact of Fed chairman Ben Bernanke. Also during the conference, Children's Investment Fund founder Chris Hohn sung the praises of European aircraft and defense giant EADS.

Read more here