Feature
Falling short of the mark
Financial institutions have struggled to develop operational risk frameworks that will improve business decisions and optimise their use of economic capital. And a new study indicates that op risk is now increasingly viewed as yet another compliance…
The Gathering MiFID Storm
A new regulation from the European Union will transform market structure—and cost investment firms billions to comply. In the meantime, IT strategists are taking a leading role in lobbying European regulators.
Demanding disclosure
The dislocation in the correlation markets in May confirmed supervisors' fears about concentration risk in the hedge fund sector. And this is fuelling pressure for hedge funds to make more data disclosure. But how would this help to reduce risk? By…
The CRO road
Some of the larger hedge funds have set up formal risk management functions, appointing independent chief risk officers (CROs) to oversee their business. But what role should a hedge fund CRO play, and are these appointments a precursor of wider changes…
The 'benefits' of smoothing
For a specific with-profits life insurance model, this article considers the amount of economic capital that is required to back smoothing benefits for a with-profits life insurance firm
The multi-period explosion
Suppliers of asset and liability modelling software are using grid computing to help life companies cope with the increasing burdens put on them by regulators and rating agencies
Selling your hedge fund business? Then maximise shareholder value
business transfer
How to make hay while the sun shines...or doesn't
weather derivatives
Redomiciling your fund in Malta
jurisdictions: malta
Company profile: DWS diversifies
Special report: Focus on Germany
Market view: Wrappers'delight
Special report: Focus on Germany
Heading for land
Hong Kong
An eye on Europe
Property indexes
A force for change
Profile
The man from the Pru
Profile
Setting alpha free
Pension
The CRO road
Risk management
Risk management for investors
Introduction
A perfect storm
Hedge fund investors have pulled billions of dollars out of convertible arbitrage strategies over the past year, but some managers now reckon the market has bottomed out. Is the strategy turning the corner? By Duncan Wood
Taking the slow road to Basel II
Brazil’s central bank published Basel II implementation guidelines at the end of last year,giving the country’s banks a firm timetable for the introduction of the new framework.What progress have banks made so far? John Ferry investigates
Economic capital blues
Rating agencies and life insurers have not always got on, with squabbles over how to account for diversification across business lines a prime reason. But could the rise of economic capital management put an end to the arguing?
The cost of power
The market in European Union emissions allowances is taking off, largely thanks to Nord Pool