Feature
Not all American managers are wearing rose-tinted spectacles
Opinions are split on the US outlook, and how to set portfolios
Arbitrage bites back
Managers expect growing performance from various arbitrage strategies
Total eclipse
A pure credit approach to Threadneedle's Crescendo Credit Fund means its returns are running to schedule
Information exploitation
The managers of Griffin Capital Management's Eastern European Value fund developed a program to make the most of their research database, resulting in 140% returns since its 1997 launch
Dividends play a crucial role
Hedge fund managers who have not kept a check on dividend levels, have missed large portions of markets' total returns
Short-selling for the long term
In volatile times, managers need to look to new instruments to help gear directional positions, and contracts for difference are becoming increasingly popular
'Herd mentality' stops UK pension managers swapping to hedge funds
Fear and lack of courage is preventing UK pension fund managers investing in hedge funds
Regulator outlines AMA issues for US banks
In a late-July speech at a Risk Waters Group forum on the US's advance notice of proposed rulemaking, the Federal Reserve's Kirk Odegard described how the US would be implementing the advanced measurement approach for op risk, and outlined regulators'…
Counterparty credit concerns
Regulators are getting interested in derivatives counterparty credit risk. When Federal Reserve chairman Alan Greenspan noted in May that one dealer (and we understand this to be JP Morgan Chase) accounted for a third of the global dollar interest rate…
Banks behind in op risk systems implementation
Bank operational risk measurement and management frameworks are not yet being used to drive business decision-making at most firms, according to a new survey by PA Consulting, an international financial services consulting firm.
Basel paper outlines way forward for op risk insurers
The Basel Committee on Banking Supervision released a paper in August outlining what the insurance industry must do to design op risk transfer products, including insurance and capital markets products.
Rumbles in the ratings jungle
Things are astir in the ratings jungle. Moody's published a paper earlier this year detailing a specific approach to assessing operational risk. Fitch will shortly be devoting a separate section of its rating reports to op risk. And Standard & Poor's,…
Trade bodies back credit rating agency reforms
Washington, DC - Several financial industry trade associations are supporting reforms to the recognition of credit rating agencies in the US.
Solving The Identity Crisis
Prudential Financial's homegrown Customer Identification Program solution answers the question behind the USA Patriot Act's Rule 326: Do you really know your customer?
The devil is in the detail, CP3 respondents tell Basel Committee
Comments on the op risk portions of the Basel Committee on Banking Supervision's third consultative paper (CP3) were supportive of the overall framework, but highly critical of specific details in the proposal.
Rate risks redux
Introduction
Scrutiny of the bounty
Introduction
All talk, no action
Cancelled power plant auctions and the complexities of asset debt structures are bad news for the boutiques set up to acquire power assets. The boutiques talk a good business plan – but execution may prove troublesome, as Paul Lyon discovers
A true test for value-at-risk
The three classic approaches for measuring portfolio value-at-risk do not compare like with like, argues Richard Sage. Here he presents a test portfolio to highlight the differences between calculation methods