SWFs get long view, hedgies stuck in tunnel vision

Hedge fund managers, particularly in Asia, have been pressed about their ability -- or in some cases the lack thereof -- to generate returns, particularly in volatile markets. Pose this challenge to a panel of sovereign wealth fund executives, with hedge fund managers in the audience, and it becomes an interesting play in contrasts.  "When GIC was first set up in 1981 we had the real objective of generating long-term returns," says Lim Chow Kiat, deputy group chief investment of…