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Interview with Chris Barrow – The tumultuous events of the eurozone debt crisis, which sent the markets into a tail spin this summer, have caused a lot of headaches for investment professionals. But for HSBC’s Prime Services offering, which launched around the time of Lehman’s imploding, this year’s volatility has actually been playing right into its hands.
This has, in large part, been down to investors and managers alike scrutinising the strength of prime brokers’ balance sheets, and more importantly, determining whether their assets are being held somewhere safe.
“We launched Prime Services in response to client demand really. Hedge
By James Williams – For the prime brokers on whom hedge fund managers rely so much on, there’s not been a huge amount to shout about in 2011. Trading volumes are down and leverage is stuck at modest levels of 2.1x to 2.4x (compared to 4x leverage prior to 2008), despite record-low financing costs. It’s fair to say that 2011 hasn’t exactly been a halcyon year for prime brokers.
“Less leverage means lower balances, which drive prime brokerage revenues,” says Glen Dailey, Managing Director and Head of Prime Brokerage at Jefferies.
This is a business where margin levels are tested
The Honourable Jed S Rakoff of the United States District Court for the Southern District of New York has entered a consent judgment against Zvi Goffer in SEC v Galleon Management, LP, et al., 09-CV-8811, an insider trading case the SEC filed on 16 October, 2009.
The SEC charged Goffer, who was a registered representative and a proprietary trader at the broker-dealer Schottenfeld Group, LLC during the relevant time period, with using inside information to trade ahead of impending acquisitions.
In its action, the SEC alleged that, on July 2, 2007, Goffer was tipped with material non-public information that Hilton Hotels
After the turbulence, trauma and topsy-turvy markets that investors have endured in 2011, it is no wonder that we are all tiredly gazing towards 2012 with some trepidation, says Thomas Beckett, CIO of PSigma Investment Management…
Events over the last few weeks have once again encapsulated the perilous and punishing world that we now live in; question marks have once again appeared over both the future of the Eurozone and the sustainability of the economic recovery the world has enjoyed since the depths of the Great Recession that ended in 2009. Despite the cracks that have appeared in the global
Nearly 1/3 of all financial advisors who sell alternative investments (AI) predict that Multi-Strategy and Managed Futures strategies have the greatest potential over the next 12 months, according to a new report released by Cogent Research.
By contrast, providers offering Long/Short Interest or Market Neutral solutions are likely to experience lower interest in the coming year as advisors look to shift their AI holdings and categories says the 2011 Alternative Investment Trend report, which is based on a nationally representative survey of 1,643 retail investment advisors.
While there is widespread demand for AI, asset managers will need to apply specific
While European and North American investors are shying away from investing in emerging manager hedge funds, Asian investors are increasingly keen to commit to such funds, the latest Preqin research shows. Fifty-eight percent of investors in the region are prepared to invest in emerging manager hedge funds, compared to 39% of European investors and 48% of those in North America.
Emerging manager hedge funds are generally considered more risky due to the manager’s lack of track record; as investors remain cautious about making new hedge fund investments it is perhaps understandable that they would be less keen to commit to
Global fund administrator HedgeServ has successfully completed an independent SOC 1 examination of its middle office, back office, and fund administration controls. The SOC 1 examination certification was completed by a Big Four audit firm, in compliance with SSAE 16 (formerly SAS 70 Type II) and ISAE 3402 Type II.
The HedgeServ SOC 1 covers the period from 1 October, 2010 to 30 September, 2011 and covers an extensive scope of relevant controls for operational, accounting, and technology processes that auditors can rely on.
"HedgeServ is committed to its leadership in the advancement of fund administration and best practices related to
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The horrifying thing about MF Global is you can bring in someone with huge experience like John Corzine, who has seen what’s gone on in the past three years, and yet he goes in and completely fails to prevent what has become the biggest blow-up since Lehman’s – indeed, it has been suggested that he instigated the disastrous trade, says Dermot Butler (pictured), chairman, Custom House Global Fund Services…
He’s due to appear before a congressional House committee today – 8 December – and in a prepared testimony he plans on saying “I simply do not know
Fundsmith LLP, the London-based fund management company established by Terry Smith in 2010, has appointed State Street
The UCITS Alternative Index Global suffered its third month of losses in the last four months as fund managers running onshore versions of their hedge fund strategies failed to avoid the mar
