Medicine man

December 09, 2011  

Oncologist-turned-fund manager Patrick Welton tweaked his methods to win institutional clients and now expects the changes to see him through a rough patch.

By Irwin Speizer

  Patrick Welton (second from right): Growing is a process rather than a target. Photographs by Lisa Wiseman
When Patrick Welton decided to give up his medical practice a few years ago to focus on his side business as a hedge fund manager, he envisioned institutional investors, wowed by his methods and rigorous business management style, committing billions in assets to his firm. His aggressive courting of pension funds and other institutional investors paid off handsomely as his assets under management nearly doubled in 2011 to about $1.1 billion.

Yet those new assets arrived just as his managed-futures strategy sank into negative territory. The Welton Global Directional Portfolio (GDP), which holds nearly all of Welton Investment Corp. assets under management, was down 13.38 percent for the first ten months of 2011. Buffeted by an unexpectedly sharp drop in commodity prices and by wild daily swings...


Subscribers have unlimited access to all online content inc rankings. Start your subscription today - click on the button below.

Subscribe now

Free trial

Taking a free trial will give you access to online content one week (excludes research & rankings). Start your trial today.

Free Trial

Bank of America/Merrill Lynch provides the innovative research and market insights that will help you succeed, including commentary on the key themes for the year ahead as well as trends driving growth in important industries and sectors. You will gain access to global research and the other information you need to make informed investment decisions.

Click here for more details.

Latest Poll

Do activist hedge fund investors ultimately add value to the companies they target?

 - 58%
 - 42%

View previous results