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Hedge fund managers are lagging behind when it comes to social media presence, and just one per cent are active on Twitter, according to a recent survey by agency MHP.

The MHP Hedge Funds and Social Media Survey 2011 revealed that eight per cent of hedge fund managers do not have a corporate website, while more than three quarters have a LinkedIn profile. But less than a quarter of those on LinkedIn take active control of their brands on the social networking site.

Just three per cent of those surveyed have their own YouTube channel. But Facebook proved to be the least favourite social media platform; not one manager had an active Facebook page for their funds.

Four per cent of managers were undecided about Twitter, but had secured their corporate name as a Twitter handle only to protect their brand while opting not tweet.

Just one of the 77 hedge fund managers surveyed, Man Investments, had an active Twitter feed @ManViewpoint.

Martin Forrest, author of the survey, said: 'The findings did not surprise us. Historically, hedge fund managers have deliberately kept a low profile and managed their reputations accordingly. As such, adoption of social media is extremely low. In the short term, this is not an issue as social media at an institutional level in the asset management industry is in its infancy and very much in 'broadcasting' rather than the more interactive mode for which it was intended.'

Forrest continued: 'Hedge fund managers should start using social media more actively as additional channels through which to communicate and build lasting relationships with their stakeholders and to develop the reputation of their firms. Taking control of their content, by becoming the best provider of it, is important.'

The survey found that the number of employees a manager has that have a LinkedIn profile correlates to the number of followers a manager has. Citadel Investment Group has 1107 employees, MAN Investments has 911 and Bridgewater Associates has 856. And the three managers surveyed with the highest number of followers were Citadel Investment Group in first, with 3473 followers, followed by Bridgewater Associates with 2606 and MAN Investments with 2118.

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