Building an online presence is important for supporting your hedge fund job search. But using social media may not be the way to go, at least, not yet.
A recent survey of 77 hedge fund managers globally, each in charge of at least $1 billion in assets under management, shows that the vast majority are largely ignoring social media. The Martin Forrest Opalesque Industry Update Survey for 2011 reveals that only 1 percent of the 77 hedge fund managers are active on Twitter, for instance, only 3 percent have a Youtube channel, and none have a wall on Facebook. The only social media channel that shows much promise was LinkedIn, with 23 percent participation among fund managers.
“The findings did not surprise us. Historically, hedge fund managers have deliberately kept a low profile and managed their reputations accordingly. They are also concerned about the regulatory implications of social media. As such, adoption of social media is extremely low,” said Martin Forrest, director, asset management and author of the MHP Survey 2011. Opalesque is a premium online provider of information related to the hedge fund and investment industries.
LinkedIn is still far and away the most popular of the social media applications for both fund managers and increasingly, for high-level technology experts sought by quant funds.
Martin Forrest suggests that fund managers should start using social media more to support their communications and relationship-building among key stakeholders and to take more control of building their brand.
Of the 77 hedge fund managers surveyed, only MAN Investments had an active Twitter feed (@ManViewpoint). MAN is using Twitter to tweet about a range of topics including broad economic views, corporate announcements, marketing events and press coverage. Another 4 percent of fund managers surveyed were thinking about using Twitter but had not yet committed.
What’s your opinion? Do you think hedge funds or hedge fund managers should be more active on social media? Add your comments below.