FT Alphaville " FTfm on AV Some highlights from Monday's FTfm. EU rule may drive out hedge funds New regulations could force hedge funds out of the EU. A revised version of the AIFMD directive could push up the cost of custody services to the point where some hedge funds could not afford it, and make it so onerous that some custodians might simply leave the market. New Invesco CIO backs contrarian investing style Face to face interview with Nick Mustoe, chief chief investment officer of Invesco Perpetual whose key investment precepts are valuations, being prepared to take big views and acting as a long-term investor. North America equities gain in popularity UK financial advisers expect to funnel far more of their clients" money into North American equity funds in coming months, according to a quarterly survey conducted by Celsius, an FT service. Institutions toughen up on top pay There is a growing gap between what corporate board members and investors feel is a reasonable reward for top management. The majority of company boards do not feel there is a problem with excessive executive pay but that view is increasingly out of step with public opinion. Post-war financial repression is back Savers are once again paying the price for financial repression by governments. If the post-war experience is any guide, they could face many more years of suffering. Linkers give more than a hedge against inflation Inflation-linked bonds are the portfolio manager's equivalent of the survivalist's canned goods and ammunition: a reserve against disaster. John Dizard explains why linkers have been doing well lately, given that we are supposed to be in a risk-on period. European groups lead way on ESG UK and continental European companies have outstripped their US and Asian counterparts in taking a "socially responsible" approach to their business and reducing risk, according to Eiris, the responsible investment research specialist. Distributors "taking bigger slice" European fund management houses are being forced to hand over more than half their fee income to increasingly powerful distributors, according to Cerulli Associates. Consistency eludes managers Emerging market debt fund managers are spectacularly unsuccessful at producing consistent index-beating, or even index-matching, returns, according to Fitch Ratings. Managers "talk more than walk" on SRI Expectations that socially responsible investing would move from niche to mainstream have not been fulfilled. But although asset managers" commitment remains patchy, a growing focus on good governance is likely to trigger more progress. This entry was posted by Emma Boyde on Sunday, April 1st, 2012 at 16:01 and is filed under Uncategorised. Edit this entry.