Man gets bookish

It has long been the preserve of the literati and the chattering classes who might normally look to raise art high above wealth in importance.

Now, though, the Booker Prize is to associate itself with that most exclusive of financial worlds – hedge funds.

The UK’s leading award for contemporary fiction, currently held by Peter Carey for his novel True history of the Kelly Gang based on the life of Australian outlaw Ned Kelly, is to become the Man Booker Prize for Fiction.