Hedge Funds Review - 2003-06-30
Articles in this issue
Prepare for the unexpected
Hedge fund managers are regarded as the most sophisticated in the financial services arena. But are they prepared to cope with unexpected shocks to the system?
The bears bite back
The outlook for US and European long/short has deteriorated, according to fund of fund managers
Economies of scale polarises the fund of hedge fund arena
larger operations will win in fund of fund battle
Staying single
Using more than one prime broker can cause more complications than selecting many is worth
Doors to Italian hedge fund market open to new investors
laws halving minimum investment to e500,000 to widen audience
Retail distribution is dangerous for hedge fund industry, warns expert
Milan conference warns of the detrimental effect retail investors could have on hedge funds
Sharpe justification?
There are crucial limitations to this measurement that must be considered, says a leading futures manager
Lock in your investors
Managers need to come up with innovative ways of keeping their investors interested, so performance fees are in for a shake-up
Brief Spring upturn for distressed securities is not expected to last
Having experienced record months in April and May, a slowdown is forecast
Being defensive proves the best plan of attack in Europe
Volatile markets hamper bottom-up analysts
Share price over-valuation creates shorting opportunities in UK
Consumer cyclicals are being shorted as a result of uncertain outlook
Opportunities abound in Europe for shareholder activism to profit
hedge fund managers profit from proactive intervention
The M&A search begins
The Mellon HBV European Event Driven Fund LP is on the hunt for merger and acquisition arbitrage funds
New issuance in the convertible bond market puts it ˜back on track'
Cheapness of fund raising and new features attached to corporate debt have led to a resurgence in the sector
Abria opens hedge fund product up to Europeans to raise assets
managers make portfolios available to continent
Ivy blooms as investors demand hedged products
Ivy Asset Management has tripled its assets under management since 2000 and is now scouring Europe for new managers and investors
Structured solutions
Structured products linked to a diversified portfolio of hedge funds open the door to investors with little appetite for risk, those with possible legal/tax/compliance constraints, or those who require regular income payments
Demand rises for cheap ASP-based risk technology systems
customers more comfortable using web-hosted technology
The retail debate
There is little support from both the long-only and alternative community to open up hedge funds to the retail market. But whose interests are the detractors looking out for?
Looking to the futures
Thanks to their flexibility, universal stock futures are seeing an increase in popularity with a record number of trades
