Australian hedge funds are growing at a rapid pace. According to one recruiter, the same cannot necessarily be said of jobs in the sector.
Vincent Bailey, of search firm Bailey Executive, says Australian hedge funds are hiring junior research analysts to conduct modelling strategies and portfolio research. But he says penetrating the market at a more senior level can be challenging - although funds are interested in seasoned traders they typically pinpoint the particular individuals they want to hire.
Grinham Managed Funds is among the hedge fund operators currently recruiting. The company, said to be the biggest hedge fund manager in the Southern Hemisphere, is shopping for junior and senior level researchers,
Problems permeating the Australian hedge fund market are at odds with the industry's rapid growth. Data from Axiss Australia shows that hedge funds in the country are growing at a rapid pace, with assets under management tripling in the 2 years to June 2005.