FoHFs under threat from multi-strategy competition

LONDON – Single-manager, multi-strategy funds pose a bigger threat to established funds of hedge funds (FoHFs) than pension funds managing portfolios in-house, says Stephen Oxley, managing director of Pacific Alternative Asset Management Company (PAAMCO).

Speaking at IRC's Hedge 2004 event in London, Oxley said his firm encouraged the development of in-house FoHFs designed to attract institutional investors. He said the practice of managing multi-fund portfolios in-house was increasing due to