8 APRIL 2006, Page 26

Hedge rows

From Jonathan Hoyle

Sir: Charles Moore (The Spectator’s Notes, 25 March) takes comfort from the fact that despite ‘often’ making £10 million a year, hedge fund managers have in fact pretty boring jobs and work punishingly long hours. Like the delightful Tamzin Lightwater in the previous issue, Charles Moore clearly knows nothing about hedge funds.

To put the record straight, most hedge fund managers earn nothing near that amount, work considerably shorter hours than their investment banking colleagues in the City (7 a.m. to 5 p.m. is the norm) and do not ‘present what they do’ to anyone at all, least of all to journalists. Hedge fund managers are an obsessively secretive bunch, which is probably why you don’t see us at lunchtime.

Jonathan Hoyle London W1