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."