City&FinanceBriefing 26 Tuesday, 20 October 2009 London Lite Girls on top in hedge fund world THE near-collapse of the banking industry and the ensuing financial crisis has led to one school of thought that high finance would be less dysfunctional and more effi- cient if the show were run by women. Latest research into the hedge fund industry suggests there may be some truth in the assertion. According to Hedge Fund Research, funds run by women have been doing much better than those managed by men during the past year of the financial crisis. It is not as if they have worked miracles though: female-run hedge funds are still down, off 9.6% over the 12 months, although that com- pares with a fall of 19% for the rest of the male-run industry. But over a longer period, the girls -- such as Elena Ambrosiadou, said to have amassed 200 million from her Ikos fund -- are still on top. During the past decade, female investment managers achieved an average annual return of just over 9% against less than 6% for the men. Jacki Zehner, a former partner at Goldman Sachs behind the research, said: Where women are present at decision-making tables, the quality of those decisions improves. Recent research from the University of California suggest men suffer from biggest balls syndrome -- they tend to make riskier investment decisions at a time of crisis in an attempt to assert their dominance over rivals. The same research indicated that women make consistent decisions in all types of situation. Separate research by Cambridge University concluded male traders are afflicted by surges in their level of the hormone testosterone. Money maker: Elena Ambrosiadou The sale of trophy assets in Paul Kemsleys 500 million Rock property empire is under way with Selhurst Park, home of Crystal Palace FC, and the former Burberry headquarters expected to attract bumper bids. PricewaterhouseCoopers was called in as administrators of Rock Investment holdings and Rock Joint Ventures in June after the collapse of the commercial property market. It marked a significant fall from grace for Kemsley, a former vice-chairman of Tottenham hotspur FC and the founder of Rock Group. The Grade II-listed Burberry building on haymarket was put on the market for 20 million, and has already attracted interest. Up for grabs: Its Sell-hurst Park BY ROBERT LEA Australia Dollars 1.6802 Canada Dollars 1.6101 Denmark Kroner 7.7364 Eurozone Euro 1.0425 Hong Kong Dollars 11.9900 Japan Yen 140.6700 New Zealand Dollars 2.0321 South Africa Rand 11.1600 Sweden Kronor 10.8100 Switzerland Francs 1.5788 UAE Dirham 5.6160 United States Dollars 1.5561 TourisT raTes Barclays biggest shareholder, the Middle Eastern state of Qatar, today began to sell about half of its warrants in the bank on the stock market, making 600million profit. The Qatari royal family is not selling any of its 7.4% direct shareholding. Barclays shares fell 20.5p to 361.6p on the news. The number of firms in financial distress has fallen in recent months -- but this could be the lull before the storm, Begbies Traynor said today. The insolvency firm said its red flag early warning system found 133,500 companies were in trouble in the third quarter of the year -- a 28% fall on the second quarter when around 186,000 firms hit difficulty. DOWN 31.50 at 5249.90 fTse 100 dow jones nikkei -$ UP 96.28 at 10,092.19 UP 100.33 at 10,336.84 DOWN 0.54c at $1.6367 >>for all the latest City share prices, call 0905 817 1694* or visit thisismoney.co.uk * Calls cost 75p/min from a BT landline & last approx 1 min per quote. not all stocks are available index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html24.html25.html26.html27.html28.html29.html30.html31.html