Hedge Funds Review - April 2015
Articles in this issue
Operational controls caused Aviva £17.6m fine
Allocation policies and correct oversight the solution
EU exit not disastrous to UK investors: Lamont
Black Wednesday chancellor says turmoil fears following UK withdrawal overblown
Deutsche Bank places faith in ‘structurally changed’ CTAs
Outperformance no short-term trend, as industry has seen “fundamental changes”
How to kill a zombie - before regulators step in
What to do with funds holding illiquid assets past their original maturity date
Book review: trend following with managed futures
Seven centuries of data shows average return of 13% with volatility of just 11%
Millennium: selective price discovery mitigates illiquidity
Route orders to intermediaries willing to absorb risk, says currency manager
Funds to consolidate jurisdictions after OECD tax initiative
Beps project means managers to choose key locations for activities
Third-party cap intro opportunity as prime brokers scale back
Cap intro said to sit in PB out of evolutionary convenience, not business logic
Esma considering revisions to CSDR buy-in technical standards
Extra-territoriality, costs, information gaps in settlement chains are challenges
Decline of FoHFs saps due diligence efforts
Investment consultants accused of offering poor substitute to decent research
Largest funds face more equity and credit risk six months on
But industry sees less interest rate risk and inversely exposed to volatility
China's clearing and reporting regimes being built bottom-up
But reported problems include disclosure of state secrets stopping US trading
Radical change needed to close hedge fund gender gap
Asian hedge funds best for gender equality but Europe lags, research finds
Hedge fund ETFs ruffle active managers
Institutions may not favour volatile, high-beta hedge fund replicators, critics say
Mifid II threatens dealing commissions and broker research
Ring-fenced research pots required to cut out inducements
