Downfall Of The Masters Of The Universe

Previously published by Elevator.

Editor, Patrick Gruhn discusses the impact of the current world financial crisis on the Alternative Investment fund Industry with Julian Stockley- Smith, Joint CEO of Geneva based JP Fund Services SA

In Tom Wolfe's 1987 book "Bonfire of the Vanities", lead character high flying investment banker Sherman McCoy is a self stylised 'Master of the Universe'. Wolfe recently describes how the mantle has shifted from Investment Bankers to Fund managers in a New York Times article (September 2008) and we can reflect on whether they are likely to suffer the same fate as those from the investment banking industry.

Question

Most people with investment experience have a clear understanding of the role of mutual funds but it appears there is some confusion to what an alternative investment fund is; can you give a brief review of the differences?