And now for something completely different...

There is an opinion that managers of hedge funds often run their portfolios to the detriment of their long-only vehicles. But is there any truth to this or is it just an urban myth? Jenne Mannion investigates Long-only fund managers who also run hedge funds are often the subject of criticism if the former start to falter. The common complaint is they are neglecting the long-only portfolio in favour of the hedge fund, which offers higher revenues due to lucrative performance fee structures. Well-known managers who run both long-only and hedge funds include Tim Russell at Cazenove Capital...