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Today's world has never been more interwoven. Cybersecurity risks have grown exponentially as global businesses have become more integrated with counterparties and system architectures have grown in complexity. In the opinion of Gerhard Grueter, co-founder of Lawson Conner, a market leader in compliance solutions for the investment fund industry, the topic is only going to get bigger.
"Today, cybersecurity has become a genuine commercial issue that can bring down entire firms because of reputation risk and regulatory risk. The threat today is nothing like what it was five years ago. It is now an active market of cyber criminals deliberately
Hedge funds are an integral part of the financial fabric, and, whilst they may not have the same capital profile as large investment banks, the Bank of England is advising that they strengthen their resilience in order to recover quickly from attacks.
In the Bank of England's July 2015 Financial Stability Report, they write: "A successful attack on a systemic institution or vital infrastructure (including non-financial infrastructure that the financial sector relies on, such as utilities) could cascade throughout the financial system."
In May 2014, the BoE established a vulnerability testing framework – CBEST. Although this is aimed primarily at
Cyber crime is building to tsunami-like proportions and hedge fund managers are not immune from the threat yet there still appears to be a degree of naivety.
According to Carl Chapman (pictured), COO of Capital Support, a leading managed IT services provider, C-level executives tend to overlook the importance of having a solid security risk programme. "They still think cybersecurity is an IT issue but it's not; it's a business issue.
"One of the approaches we've taken with some of our customers is to explain that cybersecurity is really just risk management and should be treated in the same
State Street’s Global Investor Confidence Index (ICI) decreased to 114.6 in July, down 12.5 points from June’s revised reading of 127.1.
Confidence among North American investors decreased with the North American ICI falling 20.6 points to 122.6, down from June’s revised reading of 143.2. Meanwhile, the Asia ICI rose by 2.6 points to 89.5 while the European ICI fell 2.1 points to 100.4.
The Investor Confidence Index was developed by Kenneth Froot and Paul O’Connell at State Street Associates, State Street Global Exchange’s research and advisory services business. It measures investor confidence or risk appetite quantitatively by analysing the actual
Quantifi, a provider of Analytics, trading and Risk Management solutions, has been selected by CQS, a global multi-strategy asset management firm to provide enhanced pricing and risk management analytics.
By leveraging Quantifi’s advanced analytics CQS has enhanced capability in terms of modelling and risk management practices. CQS was also impressed with the level and quality of support they received from senior members of Quantifi that, combined with the smooth integration of Quantifi’s analytics into their existing system, accelerated the time to market.
Quantifi’s comprehensive suite of best-of-breed analytics provide timely, accurate and independent valuation for a wide range of
Credit Suisse has announced the results of its mid-year Hedge Fund Investor Sentiment Survey, which polled over 200 global institutional investors representing nearly USD700 billion in hedge fund investments.
This survey follows Credit Suisse's Annual Global Investor Sentiment Survey published in March 2015.
Participants were surveyed on their current strategy appetite and allocation activity. 93 per cent indicated that they plan to maintain or increase hedge fund allocations during the second half of this year. The top three preferred investment strategies by region were:
• Americas: Equity Long/Short (56 per cent), Event Driven (47 per cent) and Global Macro (38
Total hedge fund assets decreased 1.57 per cent in June 2015, bringing the industry’s total assets under management to USD3.118 trillion, according to eVestment’s latest Hedge Fund Asset Flows report.
Investors added USD12.1 billion of new capital to the industry in June, while performance decreased AUM by an estimated USD61.9 billion.
With June’s USD12.1 billion inflow, investors added an estimated USD48.6 billion into hedge funds in Q2, the second largest quarterly inflow since Q3 2009, and USD75.0 billion in H1 2015. YTD inflows are below H1 2014 inflows of USD97.4 billion, but they are the second largest two quarter span
Kames Capital has completed the move of its London office to The Leadenhall Building, otherwise known as the ‘Cheesegrater.’
Kames has taken 13,286 sq ft of space on the 26th floor of what is London’s latest iconic skyscraper, which is officially 122 Leadenhall Street in the City of London.
The move marks a significant statement in the development of the Edinburgh based group, as it continues expand its business both in the UK and across Continental Europe. It now operates in 13 different territories across Europe including the UK.
The new office will be home to over 40
Kevin M Cronin (pictured), a law enforcement agent and former Homeland Security professional, has joined the Mackinac Partners as Managing Director in the Business Intelligence and Corporate Security Practice.
Cronin, who has considerable investigative experience working with government agencies such as the FBI and DEA on both domestic and cross border operations, has also served as a Police Sergeant, an undercover agent, President of private security consulting firm Executive Security and Protection Inc., as well as a Special Agent for the Department of Homeland Security.
Cronin brings more than 23 years of investigative, intelligence and security experience to Mackinac
Funds under management (FUM) at Man GLG jumped 8 per cent to USD78.8 billion for the six-month period ended 30 June 2015 (31 December 2014: USD72.9 billion), according to the firm’s latest interim management statement.
Gross sales meanwhile totalled USD10.5 billion (H1 2014: USD12.4 billion), redemptions stood at USD13.1 billion (H1 2014: USD9.6 billion), with net outflows of USD2.6 billion (H1 2014: net inflows USD2.8 billion) and investment movement of USD3.8 billion (H1 2014: USD0.7 billion).
Manny Roman (pictured), Chief Executive Officer of Man, said:
“While the first quarter of the year saw a more stable environment in
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