One of the most important priorities for hedge funds should be asset growth. However, with the pool of capital investors allocated being in decline, there have been plenty of notable names that have suffered losses in the industry in recent times.

This means that raising, as well as retaining capital, is very important for hedge funds. One of the best ways for hedge funds to do this is through positive public relations – a good public relations strategy has the ability to increase both the awareness and the interest with investors, while also demonstrating the fund’s investment expertise and building its credibility in the industry.

However, many hedge fund managers tend to be suspicious towards public relations, and even associate PR with attention-seeking, while they only focus on the risks and the downsides of a PR strategy. Most hedge fund managers tend to prefer to stay out of the eye of the public.

While these managers understand that the fund’s reputation is important and that thinking strategically about managing that reputation is ideal because this way they can avoid dealing with any sort of negative press, they still prefer avoiding any sort of interaction with public relations agencies.

Nevertheless, hedge fund managers should look at hedge fund PR as a way to manage the business’s reputation and strategically build the brand of the hedge fund in order to support raising and retention of capital, because when a strategy is executed well, it ends up having a significant positive impact on the success of the business.

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In practice, this means that hedge funds need to look to their own corporate strategies and think about the type of brand they want to build, not only on the investment edge of the firm but also on other interest factors such as values and culture of the business. A PR agency can help hedge funds with this by providing positive media coverage, which acts as a type of third-party validation for the public.

The agency is also very helpful when it comes developing an attractive and professional-looking landing page or website for the hedge fund, and provides valuable and insightful content on that website, that ranges from video material to written content that’s going to establish the hedge fund as a thought leader in the industry.

Furthermore, when a hedge fund manager wants to speak to the press, or a media outlet, working with a public relations agency is beneficial, because many agencies offer media training so the spokesperson for the hedge fund will be completely prepared before they appear before any representatives from the press. This way, the hedge fund spokesperson can convey all of the key messages and avoid stating anything that could potentially lead to damages to the business.

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Ronn Torossian is the founder and CEO of 5W Public Relations, one of the largest independently-owned PR firms in the United States. With over 20 years of experience crafting and executing powerful narratives, Torossian is one of America's most prolific and well-respected Public Relations professionals. Since founding 5WPR in 2003, he has led the company's growth, overseeing more than 175 professionals in the company's headquarters in midtown Manhattan. With clients spanning corporate, technology, consumer and crisis, in addition to digital marketing and public affairs capabilities, 5WPR is regularly recognized as an industry leader and has been named "PR Agency of the Year" by the American Business Awards on multiple occasions. Throughout his career, Torossian has worked with some of the world's most visible companies, brands and organizations. His strategic, resourceful approach has been recognized with numerous awards including being named the Stevie American Business Awards 2020 Entrepreneur of the Year, the American Business Awards PR Executive of the Year, twice over, an Ernst & Young Entrepreneur of the Year semi-finalist, Metropolitan Magazine's Most Influential New Yorker, and a 2020 Top Crisis Communications Professional by Business Insider. Torossian is known as one of the country's foremost experts on crisis communications, and is called on to counsel blue chip companies, top business executives and entrepreneurs both in the United States and worldwide. Torossian has lectured on crisis PR at Harvard Business School, appears regularly on CNN & CNBC, was named to PR Week's "40 under Forty" list, is a contributing columnist for Forbes and the New York Observer, and his book, "For Immediate Release: Shape Minds, Build Brands, and Deliver Results With Game-Changing Public Relations" is an industry best-seller. A NYC native, Torossian lives in Manhattan with his children. He is a member of Young Presidents Organization (YPO), and active in numerous charities.