The objective advocate

Stephen Oxley and the team at PAAMCO have taken in $500m from institutional investors since opening an office in London. Here, Oxley casts an eye over the past year and looks to the future for hedge fund investment

Some may call Stephen Oxley a 'poacher turned gamekeeper' in his present role as managing director in Europe of fund of hedge fund manager Pacific Alternative Asset Management Company (PAAMCO).

His move to US and London-based PAAMCO from a major investment consultant - where he was head of the European hedge fund manager research team - did indeed signal a move from assessing funds of hedge funds (FoHFs), for pension funds, to whom he now sells them.

But his move to PAAMCO has not seen his stance

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