Long-term flat market signals bad news for smaller managers

Smaller fund managers are increasingly handing investors back their money only to relaunch later when markets are not so flat, according to experts at a recent Monaco conference.

Still, managers and service providers at the High Performance Investing Conference in October, said the current stock market climate will not deal a terminal blow to Europe's nascent hedge fund industry.

Sandra Manzke, co-chief executive officer of Tremont Capital, said smaller funds would be especially hard hit if there