While even practitioners disagree on the exact definition, many have said that public relations is the management of communications between an organization and its publics. That means PR is an important part of any business endeavor and hedge funds are no exception.
Hedge fund public relations can be a great way to attract new investors, something that can result from simply being more accessible to the media. Fund managers can offer the media valuable information and insights on the state of the market. They can also establish themselves as leaders in their fields by speaking at conferences, submitting articles to trade publications, and doing other things to make themselves more visible to people in their field.
If hedge fund managers are naturally good speakers and writers, clear communicators and media savvy, fantastic they can take on some PR efforts themselves, if they so choose. However, hiring a hedge fund public relations consultant is a good option for those a little less sure how to navigate the tricky terrain of media, public opinion and federal regulation. A PR consultant can easily become a business partner on whom hedge fund managers rely to meet business objectives.
If the goal is to grow, a hedge fund public relations consultant is your best friend. The consultant can increase exposure in a way that translates to a bigger footprint, and help determine strategic and sustainable ways to expand.
If the manager is on the shy side, a hedge fund public relations consultant can act as a spokesperson, or train the manager to help him or her feel more comfortable interacting with the media. Media training can go a long way toward ensuring that message intended is the message conveyed.
For example, a hedge fund public relations consultant can help solidify a reputation, as well as protect it in times of trouble.
Crisis management may well be reason enough to hire a PR consultant. He or she can also help identify and prioritize stakeholder groups, which is helpful when drafting messages and targeting them at the proper audiences.
If a hedge fund manager sees fit to host or organize an event, a PR consultant can help with that.
A PR consultant can be particularly useful in the compilation of investor reports.
Of course, anyone considering ramping up hedge fund public relations efforts should consult with a lawyer to be sure all applicable laws and rules are being followed.