Aberdeen's Global Investment Outlook
Mike Turner, Aberdeen's Head of Global Strategy & Asset Allocation, offers an overview of the global economy and stockmarkets.
2009......Analytic formulae for Commodity Contingent Valuation
Due to the complexity of commodity prices dynamics, valuation of commodity contingent claims is carried out in the extant literature......
The Impact of Short Sales Restrictions
Restrictions on short selling financial sector stocks were introduced in the UK on 19 September 2008. Several countries followed this......
Crisis? What Crisis?
Just as financial markets are coursing with gut churning volatility Europe’s finance ministers meeting next week in Brussels look set......
Excerpts from the Guide to Sound Practices for Funds of Hedge Fund Managers
2. INVESTMENT PROCESS AND PORTFOLIO RISK MANAGEMENT
This chapter deals with the sound practices relating to the creation of an......Relaunch of the AIMA Journal
AIMA has released the first issue of the new AIMA Journal - AIMA’s flagship publication. The magazine was published in......
The institutionalisation of the hedge fund industry
The hedge fund industry has become increasingly institutionalised, as reflected in the operational “infrastructure” developed by managers, the increasing and......
The Alleged Fraud at Madoff Securities
Most hedge fund investors and managers will be happy to see 2008 come to an end. During a year in......
Preparing for Operational Due Diligence
The latter half of 2009 has shown signs of recovery for the hedge fund industry, both in terms of performance......
Ashmore Emerging View, "Global versus Portfolio Rebalancing'"
The credit crunch was a wake-up call. The risk is that the unthinkable can suddenly become the inevitable. Investors might......
Podcast
Bill McIntosh, Editor of The Hedge Fund Journal, talks to Andrew Baker, CEO of AIMA, about the proposed Alternative Investment......
Podcast
Bill McIntosh, Editor of The Hedge Fund Journal, talks to Ken Kinsey Quick of Thames River Capital about the launch......
AIFM directive would trigger systemic failure
The Bank of England’s Financial Markets Law Committee has concluded that the draft AIFM Directive:
o would trigger “systemic failure and......Financial Stability Report: Oct 2008
The Bank of England has two core purposes — monetary stability and financial stability. The two are connected because serious......
ETF and ETP Industry Review
Global ETF and ETP Industry 2009:
· At the end of May 2009 the Global ETF industry had 1,660 ETFs with......
ETF Landscape: Industry Review, June 2009
This document is a review of the Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) industry year to date.......
Metals Magnifier - November 2008
- The pace and scale of declines in metals prices over the past month is unprecedented and reflects the seismic......
The new global balance
Christian Broda, Piero Ghezzi & Eduardo Levy-Yeyati
In recent years, economic doomsayers have predicted an apocalyptic scenario in which investors turn......An Annus Horribilis, But Not the End
To hear the predictions making the rounds, one could be forgiven for believing that the end is nigh for hedge......
F&C AM Buy Thames River Capital
F&C Asset Management, one of Britain’s biggest retail fund groups, is to acquire Thames River Capital, the fund of hedge......
Harnessing the Potential of UCITS Hedge Funds
The Hedge Fund Journal are hosting a half day conference in London on June 29, 2010 in association with Deutsche......
Madoff Begs Questions, Promises Litigation
How will the alleged fraud carried out by Bernard Madoff affect hedge funds? A conclusive answer may be premature, but......
Man Buys GLG: Bigger Really Does Mean Better
The $1.6 billion acquisition of GLG Partners by Man Group creates an asset management group embracing systematic, discretionary and long-only......
Odey funds gain amid turmoil
The main absolute return funds run by Odey Asset Management, one of London’s oldest hedge fund operators, have notched up......
Simon Kerr talks
to Ian Ellis of MicroCapitalA niche hedge fund strategy is investing in microcap stocks. It is a niche strategy because it is not scalable......
Talk of Swiss Exodus Is Exaggerated
Hedge funds typically are fleet of foot and ever alert to new opportunities. Hedge fund partners are always considering relative......
Bob Doll investment commentary
The key points are below:
– Many observers have been pointing to the extreme run-up in equity prices over the last......Bob Doll investment commentary
It was the second week in a row of strong equity markets. The Dow Jones Industrial
Average rose 4.0% to 9,093,......Bob Doll Investment Commentary
The key points are below:
– In many ways, financial markets have been following the typical pattern associated with economic recoveries.......Bob Doll Investment Commentary
- At present, there is a sharp debate between the holders of the bullish and bearish views of the stock......
Bob Doll Investment Commentary
Please find the latest investment commentary from Bob Doll, Vice-Chairman and Chief Investment Officer for Global Equities at BlackRock.
The key......The Credit Crisis, Government Action and the Economic and Investment Outlook
While the Treasury Department, Federal Reserve and other policymakers battle to restore some measure of normality to the US banking......
BlueCrest Move May Set Precedent
In early April, just days before the new 50% UK tax on high earners making more than £150,000 came into......
Tomorrow's Risk Management: How behavioral economics, cognitive studies and complexity science add up to more than their own sum
Market events over the past year have shown that traditional economics does not adequately describe real markets and the potential......
Fear Is Good
...
Guernsey - New Fund and Prospectus Rules
Following the recent changes to the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended (POI Law) and the......
Guernsey - Exciting new framework of regulation for funds
Recent changes have been made to the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended (the “POI Law”)......
The Sun Also Rises - Growth Strategies for Japanese Asset Managers
Japan’s fund management sector needs to develop attractive products focused on fast-growing Asian economies and shift to a more incentive-based......
Castle Hall Alternatives: Hedge Fund Investing in a New World
The credit crisis which first began in mid 2007 – with the failure of a hedge fund managed by Bear......
Flawed Assumptions about the
Credit CrisisThis report from Celent compares leading US policymakers’ assumptions with available data regarding the credit and lending markets. Celent finds......
RiskTech 100
This is the third edition of Chartis’s RiskTech 100 report, a study of the top technology firms active in the......
Citi Perspectives
Over the last 10 years, the hedge fund industry has expanded rapidly. Between 2000-2007, Hedge Fund Research (HFR) shows a......
Viability Challenges to Funds of Hedge Funds
The storm
In the wake of portfolio pressures coming from hedge funds with questionable prime brokers (Lehman, Bear), credit facilities and......Committee on Oversight and Government Reform
The Committee on Oversight and Government Reform held a hearing titled, 'Hedge Funds and the Financial Market' on Thursday November......
Swedish Presidency Compromise text on AIFM
Please use the following link to download the Swedish Presidency Compromise Proposal on the AIFM Directive.
http://hfj.postcms.com/cms/preview/research/council-of-the-eu/presidency-compromise-proposal-on-aifm-directive.pdf
...Credit Suisse/Tremont 2009 Hedge Fund Industry Review
Overall, the hedge fund industry returned 18.6% in 2009 marking its best annual performance in a decade and signaling the......
Behind the Gates: Hedge Funds in Focus
2008 was a tough year for investors in almost all asset classes. Even the hedge fund industry was not immune......
Credit Suisse Liquid Alternatives
Monthly Hedge Fund CommentaryThe Credit Suisse/Tremont Hedge Fund Index finished up 1.68% in April, with Emerging Markets and Convertible Arbitrage the leading performers,......
Credit Suisse/Tremont Commentary
Long/Short Equity managers who maintained a cautious stance through the recent market run-up appeared to be positioned to profit as......
Monthly Hedge Fund Commentary
The Credit Suisse/Tremont Broad Hedge Fund Index Finished Up 0.65% in March—Global Macro Extends Streak to Five Positive Consecutive Months.
March......Credit Suisse/Tremont - Oct. Hedge Fund Performance
Hedge funds posted a slight gain for the month as market reversals muted performance. The Credit Suisse/Tremont Hedge Fund Index......
Credit Suisse/Tremont Monthly Hedge Fund Commentary
The Credit Suisse/Tremont Hedge Fund Index Gained 0.68% in February as Hedge
Funds Navigate Divergent Global Markets.
Posting returns of 1.81%, Managed......Hedge Funds Decouple as Equity Markets Continue to Decline
The Credit Suisse/Tremont Broad Hedge Fund Index finished down 0.88% in February, and has outperformed the MSCI World Index by......
January Hedge Fund Performance from Credit Suisse/Tremont
A new monthly commentary offers insight into January hedge fund performance.
Some key findings from the report include:
· January......One for the History Books
Credit Suisse Tremont Index has released a new research piece, One for the
History Books: Hedge Fund Performance in 2008, a......Q1 2010 Hedge Fund Update:
Staying the CourseCredit Suisse Tremont Index's new research paper, "Staying the Course: Q1 2010 Hedge Fund Update," examines the current market environment......
BaFin Bans Naked Short Selling and CDS Transactions
The German financial regulator (BaFin) issued three decrees regarding short selling activities and CDS transactions on 18 May 2010 (the......
Dodd-Frank: The Regulatory Reset of the OTC Derivatives Markets
Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act provides, for the first time, a comprehensive regulatory......
Dechert On Point
In response to recent market events, the SEC, Financial Accounting Standards Board, and Congress have taken a number of steps......
Financial Services UK and International Update
The latest edition of Financial Services UK and International Update from Dechert’s Financial Services Practice covers the following issues:
AIFM Directive
Credit......DechertOnPoint - Recent Short Selling Developments
In response to a financial crisis of historic proportions, regulators around the world adopted short-term emergency measures in 2008, frequently......
United Kingdom Regulatory Reforms: Twin Peaks Revisited?
The UK Chancellor of the Exchequer, George Osborne, has used his maiden Mansion House speech to lay out the radical......
Dechert Update - Offshore Funds: Changes to the New Reporting Fund Regime
The Offshore Funds (Tax) Regulations 2009 were finally enacted on 12 November. The Regulations implement the incoming reporting funds regime......
Hedge Funds: Redefining the Course
Ernst & Young's 2008 Global Hedge Fund Survey focuses on issues that are both topical and central to the long-term......
Opportunity to bring hedge funds onshore
Europeans intent on blasting offshore hedge funds, manifested in the somewhat misguided proposal for a European Union draft directive [on......
Survey on risk management for asset management
Prevailing market conditions in the wake of the credit crunch are providing plenty of challenges for risk professionals in the......
Hugh Hendry is a bear of others’ views on inflation
Hugh Hendry has enjoyed the label of asset management maverick for some years. He has trenchant views which are often......
December Hedge Fund Returns (Estimates)
"After three months of significant losses, the stock markets managed a positive return (+1.06%) in December, with volatility remaining high......
April Report
In April, stock market volatility remained high (36.5%) but fell significantly, passing below the 40% mark for the first time......
Hedge Fund Performance in 2008
Twelve years of data on EDHEC Alternative Indexes has been analysed for different hedge fund strategies to provide some perspective......
Hedge Fund Reporting Survey
A new survey from the EDHEC Risk and Asset Management Research Centre, the EDHEC Hedge Fund Reporting Survey, shows that......
Impact of
Regulations
on the ALM of
European
Pension FundsThis study analyses the impact of prudential and accounting constraints on the asset-liability management (ALM) of European pension funds in......
The Pros and Cons of Passive
Hedge Fund ReplicationThe remarkable rise of the hedge fund industry in the last decade of the twentieth century would not have been......
January Hedge Fund Returns (Estimates)
After slight relief in December, the stock markets fell severely again in January (-8.43%) with increased volatility (44.84%). The S&P......
November Hedge Fund Returns (Estimates)
With volatility still at its highest levels (56%), the stock markets again had to face adverse conditions this month and......
The Undesirable Effects of Banning Short Sales
An in-depth study of the short-selling market calls into question both the reasons for the decision to ban short selling......
UCITS III: Great News for Investors
Critics, most of whom unsurprisingly have a vested interest in the status quo, have dismissively called compliant hedge fund strategies......
Report by AIFM Directive Rapporteur
Draft report by Rapporteur, Jean-Paul Gauzès, on the proposal for a directive of the European Parliament and of the Council......
Fitch Ratings - Fund of hedge funds quarterly
The fourth quarter of 2009 concluded on a positive note the best year the hedge fund industry has had since......
European CLO Asset Managers
This report is a continuation of the previous report, European CLO Asset Managers – Survival of the Fittest, dated 31......
Reviewing and Rating Fund of Hedge Fund Managers
Fitch Ratings has tupdated its Asset Manager Ratings methodologies for fund of hedge fund (FoHF) managers. Asset Manager Ratings provide......
Hard Times Come To The Hedge Funds
The following article was written in Jan 1970 by Carol Loomis for Fortune magazine.
Download article (PDF, 780K)
...Financial Crime Newsletter
The theme of the FSA’s latest financial crime newsletter is one of collaboration. In July the FSA revealed a series......
Assessing possible sources of systemic risk from hedge funds
This paper sets out the results of the Financial Services Authority’s latest Hedge Fund and Hedge Fund as Counterparty surveys......
Market Watch – Issue 30
Disseminating false or misleading information about companies, particularly in volatile or fragile market conditions, can be a very damaging form......
FSA Market Watch
The FSA's Markets Division newsletter for October 2008. This month's contents include:
- Unauthorised trading at Société Générale: update
......FSA: Short selling
In this paper we summarise and respond to the feedback we received to our
proposals on the regulation of short selling......The Turner Review
Over the last 18 months, and with increasing intensity over the last six, the world’s financial system has gone through......
The Currency Crises of 2009 & Australia is Swimming Upstream
Since the start of the year, the rather modest moves in the markets, whether currency, equities, interest rates, or commodities......
FX Concepts - Market Insight Report
Three Strikes and You’re Out
By John R. Taylor, Jr.
For those not familiar with the American game of baseball, a batter......FX Concepts - Market Insight Report
A Chinese Slowdown in 2010, a Global Problem?
A couple of smart analysts are getting a lot of press for saying......April Fools’ Month
In the United States, the first of April is the day to fool your best friend or to play a......
MARKET INSIGHT REPORT
John R. Taylor, Jr. Chief Investment Officer:
"After reading the recent press about the economic and political maneuverings in and around......When Something Looks Inevitable, It Isn’t
The chattering classes that dominate the airwaves and editorial pages in the US and Western Europe generally spend their time talking......
GFIA - Asian Hedge Funds Note
GFIA began coverage of the Asian hedge fund industry in September 1998. At that time, the industry was small enough......
Does size matter?
GFIA has released a research paper continuing its study of the relationship between a hedge fund’s size, and its performance.
In......GFIA Market Review
Highlights:
- Generally poor economic news coming from the markets
- Currency depreciation the main loss driver in Japan and Korea......GFIA Market Review
GFIA and Peter Douglas’ Market Review (from the standard edition newsletter) for January 2009 deals with the following:-
- India comes......Investing in hedge funds in emerging
markets:Emerging market equity investing has typically been characterized by dramatic price movements through market cycles in both directions. In addition, the......
Market Review
Please find enclosed the GFIA standard edition newsletter for Jun 2009. In this issue you will find:
- Market Review-......
Mortality rate of Asian hedge funds
GFIA pte ltd has released a research paper on Asian hedge fund closures from 2008 to 2009.
Fund closures are an......GFIA Research Insights
Market Review
Asian markets concluded 2009 with a strong finish
The Asian region continued its bullish momentum through the last two months......Hedge Fund Industry Trends
The first half of 2010 has witnessed a fundamental shift in the global hedge fund industry as it enters a......
Hennesse Hedge Fund Review - January 2010
The financial markets rebounded strongly in 2009 as investors returned from the sidelines and snatched up securities trading at “once......
A new approach to financial
regulation:The financial crisis and the failure of the UK regulatory framework
The UK banking system is emerging from the most serious......Growth outlook remains anaemic despite risk of meltdown easing
Sentiment and certain macroeconomic data have clearly improved in the last few months, and the risk of a prolonged global......
Global Investment Views
Despite strong equity market performance in March, it is still too early to claim that a recovery is about to......
Global Investment Views
The latest HSBC Global Asset Management's March market update, has been compiled by Simona Paravani, Global Investment Strategist at HSBC......
Valuations following stock market rally no longer compelling
Following the stock market rally in the second quarter, valuations for equities and corporate debt are still attractive relative to......
Hedge funds’ assets to
fall by over a fifth
in 2009Hedge funds’ assets are likely to fall by over 20 per cent in 2009, according to International Financial Services London.......
IKOS Investor Newsletter
The volatility of the markets was extreme in the month of October where even developed economies saw annualized numbers close......
IMS Asset Management and Securities Regulatory Update
Autumn is giving way to winter and the spectre of significant future regulation grows
closer both in the UK (and Europe)......Hedge Funds Oversight:
Final ReportThe IOSCO Technical Committee published its Consultation Report, entitled Hedge Funds Oversight on 18 March 2009 (the Consultation Report). The......
The Emergence of a two tier Insurance Market
On the 12th December 2008 one of the world's biggest frauds came to light after Bernard Madoff allegedly admitted that his......
Winds of Change
2009 began with the widely-held hope that the worst of the financial crisis was behind us. Drawing shaky confidence from......
Kaye Scholar Client Alert
On 6 February 2009, the Financial Services Authority released a comprehensive review of short selling, following the issuance in September......
UCITS FoHF Distributors Survey
KdK Asset Management's Summary Report summarizes the results of a survey conducted among 59 Fund Distributors.
The survey confirms that there......UCITS Fund of Hedge Funds Survey
Over the past year, a significant number of hedge fund heavyweights have repackaged some of their Hedge Fund offshore offerings......
UCITS Funds of Hedge Funds Survey
Over the past year, we have witnessed the launch of a great number of UCITS regulated funds managed by hedge......
Focus Newsletter
Welcome to Kinetic Partners’ April issue of ‘focus’, our newsletter for the
asset management community. It provides a synopsis of......Kinetic Partners: Focus
Kinetic Partner’s latest issue of ‘Focus’, a newsletter for the asset management community.
It provides a synopsis of the latest......Kinetic Partners: Focus
Kinetic Partner’s latest issue of ‘Focus’, a newsletter for the asset management community.
It provides a synopsis of the latest news......Kinetic Partners Focus May 2010
Welcome to Kinetic Partners’ latest issue of ‘focus’, our newsletter for the asset management community. It provides a synopsis of......
Investment Management Alerts
Please click on the links below to view K&L Gates' latest Investment Management Alerts:
A New Era for Credit Default......Lehman Brothers International (Europe) — Proposed Scheme of Arrangement for Trust Property
Lehman Brothers International (Europe) is the UK affiliate of Lehman Brothers Holdings, Inc. On 15 September 2008, LBIE was placed......
Hedge Fund Standards:
Best Practice“With influence comes responsibility”, said Paul Marshall, co-founder, Marshall Wace Asset Management, in an article published in The Hedge Fund......
Fill the glass to the brim
A lack of focus on tax considerations may mean the objectives of UCITS IV (a harmonised and more efficient UCITS......
Key Technology Considerations for Hedge Funds
Selecting investment management software can be a confusing task and the importance to your business is often overlooked in the......
ASSET FLOWS
REPORTAlthough hedge funds managed to break through the downward performance spiral of the last two quarters of 2008, the industry......
HEDGE FUND PERFORMANCE SNAPSHOT
The Snapshot contains early Lipper hedge fund performance readings (based on Lipper Global Hedge Classifications) as at the end of......
Hedge Funds Insight Report
· Posting the largest monthly performance since February 2000, the Credit Suisse/Tremont Broad Hedge Fund Index returned a solid 4.06%......
A Checklist for Hedge Fund M&A and Consolidation
Assets in the hedge fund and global asset management business – which swelled to $2.7 trillion in 2008 – could......
Shedding light on responsible investment: Approaches, returns and impacts
Specific environmental, social and corporate governance factors can have a positive impact on portfolio returns, according to a growing body......
How will the SEC Protect the Market from Exposure to Naked Short Sales and other Abusive Transactions?
The Securities and Exchange Commission adopted a number of measures during the second half of 2008 that limited short selling,......
MSCI Barra
Dramatic movements in the equity and bond markets have largely overshadowed those in the currency markets during the past few......
Currency Hedging: A Free Lunch?
This Research Insight examines the question of whether currency hedging is a ‘free lunch’ of risk reduction and zero expected......
Efficient Replication of Factor Returns
The empirical evidence of Chen, Roll, and Ross (1986) and Fama and French (1993) suggests that asset dynamics are characterized......
Examining Risk in GCC Markets
A review of the recent risk environment in Gulf Cooperation Council (GCC) countries using the new and enhanced Barra Global......
Impact of shorting restrictions on portfolio efficiency
In this Research Bulletin, MSCI Barra presents some case studies detailing how the short selling ban on stocks of financial......
Results of MSCI Barra Semi-Annual Index Review
MSCI Barra a provider of investment decision support tools worldwide, including indices and portfolio risk and performance analytics, has announced......
MSCI Barra - The Future of Market
Risk ManagementIn the wake of the 2008 financial crisis, many asset managers and asset owners are reevaluating their risk management practices.......
Pension Provision and the Economic Crisis
Findings from the National Association of Pensions Funds’ latest survey Pension Provision and The Economic Crisis show that 52% of......
South African Hedge Fund Suvey October 2009
This edition marks the sixth consecutive year that Novare Investments has conducted a survey of the South African hedge fund......
Cayman in Calm Waters
In recent weeks Cayman has received a lot of adverse coverage in some sections of the international media as reports......
Dynamic Alpha: Risk Regime-Based Portfolio Management
Despite outperforming traditional assets (equities and credit), the double-digit losses recorded by the large majority of funds of hedge funds......
Hedge Funds 12 Months After September 15 - Emerging From The Wreckage
In 2008, the hedge fund industry posted its worst performance ever. Even if hedge funds significantly outperformed equities, they failed......
A first guess for the hedge fund attrition rate in 2008
Introduction
After a decade of dramatic growth, the hedge fund industry is experiencing the greatest shock of its short history. First......Managed accounts and tracking error risk
In 2008, the hedge fund industry posted its worst performance ever. Even if hedge funds significantly outperformed equities, they failed......
“2 & 20” Fee Structure being driven Down by Institutional Pressure
Hedge Fund Investor Spotlight
When the last Preqin Global Hedge Fund Investor Review was published in October 2008, the world’s markets were still in......
Hedge Fund Investor Spotlight
Feature Article - The Outlook for Emerging Managers
Despite the financial turmoil of the recent past, institutional appetite for emerging
manager hedge......A New Era for Fund of Hedge Funds
It has been a turbulent two years for the fund of hedge funds industry and only now, nearly midway into......
2009 Global Hedge Fund Investor Review
Preqin has released its 2009 Global Hedge Fund Investor Review, featuring analysis on all aspects of the institutional market, plus......
The Next 12 Months:
Institutional Appetite For Hedge FundsThe hedge fund industry has experienced challenging conditions over the past two years following the onset of the financial crisis,......
Managed Accounts on the Upswing
Looking back over the past 24 months an interesting trend in the hedge fund industry has emerged – the increased......
73% of investors: hedge fund returns meet or exceed expectations
Results of Preqin Survey: Institutional confidence one year on - have investors recovered from the crash?
The report is based upon......Hedge Funds: The Fee Debate
An End to “2 & 20”?Preqin carried out a survey of hedge fund managers and fund of hedge funds managers in Q2 2009 and again......
UCITS - The Future of Regulated Funds?
One of the key topics in the hedge fund industry over the last year has been the growing presence of......
PrimNews - Fund of Hedge Funds Review
PrimNews is a monthly newsletter that contains general information regarding the Fund of Hedge Fund industry and is issued by......
A second wind
The last few years have been challenging ones for hedge funds, with reduced returns and assets being coupled with an......
Changing rules
The reduction in worldwide securities markets coupled with net redemptions over the last 9 months have resulted in industry assets......
Future Newcits Regulation?
After two years of decline in Europe’s assets under management, such growth is welcome. Newcits are a genuine response to......
Hedge Fund Regulation
A report by PricewaterhouseCoopers
Highlights:
- New regulatory and legislative action is likely to result in greater oversight of hedge funds......Hedge funds key to global market stability
Recently, Mark Casella, PricewaterhouseCoopers’ US Alternative Investments Leader, interviewed Richard H. Baker, President and Chief Executive Officer of Managed Funds......
Operational Risk: An Alternative Challenge
When we produced our whitepaper last year in June 2007, the sub prime crisis was gathering pace and the credit......
The Cayman Islands tax arrangement signed
Please find attached a link to our Newsflash regarding The Cayman Islands / UK Tax Arrangement which was signed on......
UCITS IV: Time for change
In the course of summer 2010, Europe’s asset managers will learn the final form of the most extensive regulatory upheaval......
Adapting to market change - Alternatives poll results
While the global financial crisis hit a wide range of sectors and institutions, the alternative investment market was amongst its......
Raising Capital in a New Era
One of the most noted challenges of the “new era” is raising capital. Together with the Economist Intelligence Unit, we......
The Madoff Case:
The Madoff scandal continues to send tremors throughout the world of finance. Too many investors did not see any danger......
A New World Order
In years past, hedge fund firms were seemingly immune to the challenges faced by mainstream financial organizations as they continued......
Rothstein Kass research
Over 98% of senior hedge fund managers reported that the new US Presidential
Administration is likely to increase regulation of the......SFAS 157 Fair Value Measurements
Statement of Financial Accounting Standards No. 157 (“SFAS 157” or the “Standard”) was issued in September 2006 and is an......
Under Fire, Rated Hedge Funds Will Likely Retool and Rise Again
Although hedge funds' earnings volatility will likely be higher and assets under management lower as the markets work through the......
S&P Fund Services FOHFs sector update
Gross exposures remain well below historical levels among funds of hedge funds, says Standard & Poor’s Fund Services in its......
The Risks of Financial Modeling, VaR and the Economic Breakdown
The House Committee on Science and Technology’s Subcommittee on Investigations and Oversight held the first Congressional hearing to investigate the......
Discounting a better future
Managing assets in turbulent times is always a challenge. In its investment outlook SEB, the Northern European financial group, focuses......
Continued good prospects for hedge funds
Hedge funds are continuing to perform well. So far this year, broad hedge fund indices have delivered a return of......
From beta to alpha − time for hedge funds
As we described in our last Investment Outlook (December 2009), last year was a relatively simple period for hedge fund......
SEB comments on the outlook for hedge funds
Hedge funds continued to rise sharply in value during the third quarter of 2009, but early in the fourth quarter......
Regulating Hedge Funds and Other Private Investment Pools
The United States Senate Committee held a hearing, entitled 'Regulating Hedge Funds and Other Private Investment Pools', on Wednesday July......
Hedge Fund Size : What is the breakeven AUM level?
All investment managers worry about the breakeven level of their funds and the purpose of Sigma Partnership's Briefing Note is......
Corporate Governance: fact or fiction?
The trials and tribulations of the banks, financial services, hedge funds, private equity and insurance companies have been dissected and......
Silk Invest 2010 Outlook
Our main theme for the next 12 months is moving back to ‘normal’. We believe that
investors will leave behind the......Simon Kerr Comment
Lakes suffer when the rivers and streams flowing into them run low for a prolonged period. Sometimes it can be......
Funds of Hedge Funds Consolidation: the Gun Has Been Fired
For just about all of the last decade it has been consistently suggested that the fund of hedge funds sector......
Galleon edge illegal, but information flows to hedge funds can be important
The information that hedge fund groups use is a topic that comes into and out of focus. Recently it has......
Returns, Rehypothecation, Banks and Hedge Funds
In a presentation written in May last year Manmohan Singh, a Senior Economist in the Financial Sector Analysis Division of......
A wolf in sheep's clothing
Can You Run A Hedge Fund as a UCITS?
We are increasingly asked by clients whether it is possible to......Barbarians at the Hedge Fund Gates
Introduction
Against the background that hedge funds have generally outperformed both the equity and debt markets year to date, it is......Private Fund Adviser Registration in the US
Whilst the attention of European asset managers has been very much focussed on the proposed Alternative Investment FundManagers Directive, those......
Financial markets alert
For its first foray of 2009 into the publication of consultation materials, the UK Financial Services Authority has produced a......
The Case of Volkswagen
The UK press has been dominated in the last days with events in Germany relating to the announced take over......
Minimising Regulatory Capital Requirements
On the day when the Turner Review signals fundamental changes to bank capital and liquidity regulations, one might be forgiven......
Not just Contracts for Difference (CfDs)
On 3 March, the FSA published a Policy Statement on Contracts for Difference setting out details of the new disclosure......
SJ Berwin Financial Markets Alert
On 6 February 2009, the FSA published DP09/1 which sets out its analysis and conclusions on its proposed approach to......
February Client Alerts
TALF Program Increased to $1 Trillion and to Provide Financing for Commercial Mortgage-Backed Securities
On Feb. 10, 2009, the Federal......FSA Proposes to Extend Its Remuneration Code to UK-based Hedge Fund Managers
On 29 July 2010, the United Kingdom’s Financial Services Authority published a consultation paper setting out proposed revisions to its......
Shareholder Activism Insight
Based on a series of interviews with corporate executives and activist investors, this report highlights current trends in activist investing......
State Street Global Markets
Every recent stock market rally has ultimately been overwhelmed by downdrafts from a hobbled financial system and fractured real economy.......
Research Note
Wallflower Europe
The Jane Austen industry appears to be recession proof. Her six novels have been endlessly adapted for stage, film......Sovereign Wealth Funds: Emerging from the Financial Crisis
State Street Corporation has released its latest Vision Series report examining the impact of the recent financial markets on sovereign......
State Street Global Markets
Steering the right course between opposite dangers is never easy. The dilemma investors have faced over the past few months......
Technical driven ideas on strategical hedge funds allocation
Hedge Funds performance turned positive for 2009. In March, except for the directional trading group, all others groups performance was......
Technical driven ideas on
strategical hedge fund allocation2009 was a very interesting year in many aspects: performance, industry trends , fraud, legal environment, liquidity, assets under management.......
Credit Suisse unveils Prima approach to UCITS
The launch of Credit Suisse’s Prima Multi-Strategy Fund, a UCITS-compliant multi-strategy fund of funds, out of Luxembourg this month, demonstrates......
Regulators and companies need to recognise ‘gaming’
Markets continue to confound conventional statistics. Last year brought an astonishing pattern of extreme moves, combined with unusual correlations. Accepted......
UK international financial services –
the futureForward by Alistair Darling:
“This report looks to the future. I am determined that the financial services industry remains an essential......Secular Growth in Emerging Markets and How to Access It
During 2008, investors witnessed the most severe correction in emerging market equity history amid levels of market volatility and uncertainty......
What impact will quantitative easing have on UK pension
schemes?In March 2009, the Bank of England (BoE) announced a significant asset purchase
program. The key objective was to stimulate......Harnessing the Potential of UCITS Hedge Funds
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Interest in launching hedge funds in a UCITS wrapper is running at an all time......Watson Wyatt - Extreme risk management
Watson Wyatt has identified and ranked fifteen extreme risks that would have a high impact on global economic growth and......
