As the hedge funds once clustered in London's Mayfair negotiate gyrating markets, they are facing a new line of investor questioning: who has contracted COVID-19?
LONDON - As the hedge funds once clustered in London’s Mayfair negotiate gyrating markets, they are facing a new line of investor questioning: who has contracted COVID-19?
“The important thing for managers is planning – what do they intend to do on the basis of when, not if, they get the virus,” said one of three investors who told Reuters they wanted to be informed about any coronavirus infections at the hedge funds they invest with. They say they would only tell investors if their top managers fell seriously ill, but not necessarily inform them of a mild infection, or if lower-ranking staff became sick, according to interviews.
Where funds can be managed by a variety of people, and are advertised as such, their obligation to notify investors about staff absences depends in part on their prospectus, succession plans and any individual agreements with investors, regulatory experts say.
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