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US Hedge Fund & Private Equity Services 2013

Thu, 19/09/2013 - 14:54

With US alternative investment fund regulation tightening, this key Special Report examines how managers are responding, outlining new trends such as hedge funds setting up 40 Act funds, the growth of hybrid hedge/private equity vehicles, access to the EE

The 'US Hedge Fund & Private Equity Services 2013' special report comprises 11 separate articles listed below, these can be read individually or as a sequence.
James Williams, Hedgeweek

US hedge funds start to branch out into 40 Act funds

Thu, 19/09/2013 - 14:15

By James Williams – One thing is certain: hedge fund regulation in the US is tightening and is here to stay. What remains uncertain is the long-term impact it will have on the industry. Recent high-profile insider trading cases involving Galleon Group LLC and, this summer, SAC Capital Advisors, have put a spring in the step of its national regulator, the Securities & Exchange Commission. As reported by Reuters, the SEC filed 735 enforcement actions in 2011 and collected USD928million in penalties: a fourfold increase on 2008. »

Beth Mueller, US Bancorp

Automated solution to help relieve FATCA burden

Thu, 19/09/2013 - 14:27

Next July marks the introduction of the Foreign Account Tax Compliance Act (FATCA). To meet the demands of this far-reaching legislation, US Bancorp Fund Services, LLC is working proactively to implement innovative technology resources and modifications to internal procedures to streamline compliance and reporting processes and minimise the burden placed on managers. »

Scott Price, Regional Director, Americas, Custom House Global Fund Services

A new reporting engine with OMS connectivity

Thu, 19/09/2013 - 14:43

"Emerging managers under the USD200million AuM mark struggle to get the necessary reporting needs from their service providers because of the high cost of ownership,” explains Scott Price, Regional Director, Americas, Custom House Global Fund Services, one of the industry’s leading hedge fund administrators.   »

Ted Jasinski, General Manager, Admiral Administration

Capitalising on convergence between 40 Act and onshore funds

Thu, 19/09/2013 - 14:50

In August, the Financial Times reported that more than half of US hedge fund groups had launched, or were in the process of launching, traditional mutual funds, otherwise known as 40 Act funds. The objective is simple: to widen out a manager’s overall investor base. But it’s not just hedge fund managers launching long-only funds. Increasingly, in the US, traditional managers are looking to launch onshore hedge funds to also widen their investor base. »

Michael Rucci, UBS Global Asset Management

AIFMD: challenges facing US and other non-EEA managers

Thu, 19/09/2013 - 15:02

By Michael Rucci (pictured), head of fund ervices Americas, UBS Global Asset Management – How does AIFMD impact how I can market in Europe? AIFMD will challenge many managers but it will also, over time, offer opportunities to attract capital that has previously been unavailable to the alternative asset management industry. Consequently, as a result of the Directive all EEA managers need to make an application for authorisation by July 22, 2014 Regulators are urging the industry to apply sooner rather than later in 2014. »

James Williams, Hedgeweek

US hedge funds take OTC clearing in their stride

Thu, 19/09/2013 - 15:05

By James Williams – “Even though as a quantitative trading firm with a lot of technology infrastructure in place we’ve been able to handle a lot of the regulatory requirements internally, we can’t do everything. We’ve had to lean a little more on our service providers, in particular consulting our legal advisers, over the last 12 months,” explains Ken Shoji, COO of New York-based GSB Podium Advisors, an equity statistical arbitrage fund. »

Dan Matthies, Bloomberg

Dealing with heightened regulation and tightened margins

Thu, 19/09/2013 - 15:09

By Dan Matthies, Bloomberg – In the space of just five years, the financial services industry has seen remarkable change: the rise of automated trading appliances; a global economic meltdown and subsequent recovery; and now, sweeping financial regulations. No matter the size of your fund, the investment environment has only been getting tougher amid heightened regulation and tightened margins. »

Lonnie Macdonald, President, JD Clark & Company

Big data and mass customisation precipitate cutting edge solutions

Thu, 19/09/2013 - 15:12

Big data’: That’s the catchphrase in today’s climate of regulatory overhaul, and it’s something that hedge fund administrators are deeply focused on addressing. Lonnie Macdonald (pictured), President of JD Clark & Company, the hedge fund administration division of UMB Fund Services, believes that the toughest part of delivering ‘Big Data’ is doing so in a way that meets the needs of each individual client. Minimal disruption is the aim of the game. »

Jason Brandt, Regional Head of Fund Services for the Americas, Maples Fund Services

PE firms present a compelling opportunity

Thu, 19/09/2013 - 15:17

Private equity firms have, to date, avoided much of the regulation faced by US hedge fund managers. But it’s only a matter of time before they too will face enhanced transparency demands and regulatory reporting. »


Automate your private equity waterfall

Thu, 19/09/2013 - 15:23

By Ras Sipko, Chief Operating Officer of Koger, Inc – Common feedback from private equity funds when questioned about running profit/performance allocations is that they have a process that works, mainly driven by the use of spreadsheets. While it is certainly easy to build out the required accounting methodologies on an Excel spreadsheet is it the best way to handle this work? »

Jack Seibald, Concept Capital

Accelerated growth in cap intro business

Thu, 19/09/2013 - 15:26

In much the same way that hedge fund managers need sufficient ‘skin in the game’ to attract investors, capital introduction is a serious financial and reputational commitment for prime brokerage firms. »

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