Veritas Asset Management
Veritas Asset Management | Hedge Fund Notes
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Resource #1: (2.4.09) Veritas Asset Management has appointed Antony Burgess to the new role of director of institutional business, responsible for expanding the firm's Asian hedge funds to U.K. and international institutional investors.
Burgess joins Veritas from Capital International where he was vice president relationship manager. During his five years at Capital, Antony initiated the company’s defined-contribution offering, generated segregated and pooled investment assets, and was pivotal in developing institutional business within the U.K. market. source
Resource #2: (12.5.08) Hedge funds are suffering "tremendous" reputational damage because promises to make money whichever way markets move have not been fulfilled, although in the long run the industry will benefit from the shake-out, Veritas Asset Management manager Ezra Sun said.
Hedge fund "cowboys" boosting returns with lots of borrowing rather than smart strategies were the main culprits for the reputational damage, with investors blaming them for charging high fees and blocking them from withdrawing their money, he said.
"The market in the past few years has been rewarding people who've been running basically leveraged long-only funds," Sun told Reuters in an interview.
"They are now being shown to be basically cowboys, and a lot of them fell off their horses," he said.
Many hedge funds were charging high fees but not hedging out risk said Sun, who runs the $132 million Real Return Asian hedge fund and the $543 million Veritas Asian long-only fund and who was previously at Newton Investment Management. source
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