Stephen Oxley, managing director of Paamco Europe, has a surprisingly upbeat view of the future prospects for Europe's fund of hedge funds (FoHF) industry. "The future looks very bright actually, interestingly," he declares. His optimism is based on the fact that he sees the role of FoHFs growing, not shrinking. He believes investors will always need people to analyse, research, do due diligence on and construct portfolios of hedge funds.
"It's interesting that some of the mainstream long-only