UPDATED 00:40 EDT / APRIL 25 2011

NEWS

Hedge Funds Hiring

Hedge fund managers are more optimistic this year about hiring and growth in the industry, according to recent survey results reported at fins.com, a career oriented website related to the Wall Street Journal (wsj.com) and Barron’s (barrons.com).

Record inflows in 2010 will spark hiring, according to Rothstein Kass, the New York-based accounting and consulting firm that conducted the study.

“The pace of hiring will increase in lock-step with the growth in the industry’s assets under management,” said Jeff Kollin, a principal with Rothstein Kass. “The growth of the industry is what’s causing an expansion of job opportunities in the alternative space.” Hedge fund assets under management rose to over $2 trillion this year, a level not seen since pre-crisis 2007 and an all time high.

Three-quarters of respondents to the survey expect more funds to launch this year, and 60% expect fewer closures. Rothstein Kass surveyed 313 fund managers in January. The firm specializes in providing services to the hedge fund industry.

Hedge funds will seek out those at the top tiers of ability in their fields, said Kollin — particularly those in finance, banking, trading, operations, compliance, technology, and even sales and marketing. Compliance in particular, he said, “is here to stay,” in light of Dodd-Frank’s regulatory provisions.

Outlook on the fund management side was also positive, with fewer than a third of survey respondents saying that 2011 would be a difficult year for funds, down from 70% a year ago.


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