Seeders and incubators are struggling to help hedge fund start-ups and smaller players raise funds while the way money is raised is changing as sources of investment and investor demands evolve.

The problems facing start-ups and smaller players looking to raise funds as well as the role of seeders and incubators were among the topics discussed on the latest N@ked Short Club radio programme.

Topics ranged from fund raising issues for new funds, to the euro. Also touched on was the question of whether and how managers are adapting to the post-crisis environment, especially attitudes and approaches to risk management.

Guest appearing on the programme with presenter Dr Stu included Paul Netherwood, partner at Beach Horizon; Richard Watkins, CEO at Liability Solutions; Matthew Sargaison, chief risk officer of Man/AHL; Russell Hendry, director at Middle East money managers Mena Capital; Stanley Marchon, CEO at HedgieBee; Bill McIntosh, editor of Hedge Fund Journal and City head-hunter and writer, Sarah Dudney.

McIntosh and Watkins reviewed some of the issues addressed at the GAIM conference in Monaco including which investment strategies are finding favour with investors, what else investors are saying and what people are saying about the shape of the industry.

Netherwood talked about some of the challenges facing start-ups, including how much is needed by a single manager fund before most allocators will take it seriously. He also discussed the pro and cons of a seeder compared with an incubator and from a seeder's standpoint how much is typically needed to make a fund viable.

Netherwood also explained the economics of seeding and incubation and if there are any alternatives to these expedients for new or small managers trying to raise money.

Guests discussed when the current situation for money raising is likely to change and what the likely sources of investment were as well as what investors are looking for from hedge funds.

Another topic was the euro and the eurozone's continuing problems. The risk implications of the problems with the euro were talked about along with general currency pressures and moves and the issue of whether fiscal and monetary tightening now is a viable solution to countries in such contrasting situations as the UK, Japan and Greece.

Musical selections played came from the Orb, Gong, Jeffesron Airplane, Hawkwind and Led Zeppelin.

Feedback on the show should be directed to presenter and host Dr Stu.

The N@ked Short Club broadcasts on Mondays from 21.00-22.00 GMT and is replayed from 15.00-16.00 GMT every Thursday on not-for-profit ResonanceFM at 104.4FM in London or  via the web.

The next live edition will be broadcast on June 7.

Resonance 104.4FM is not-for-profit, UK registered charity supported entirely by grants and voluntary donations.