Hedge funds
ETF and mutual fund liquidity present risks to investors
A report by the International Monetary Fund says asset managers are a potential source of systemic risk and a threat to financial stability
K2 addresses Ucits liquidity with manager portfolio data
K2’s investment team, Franklin Templeton’s performance analysis and investment risk team and JP Morgan as depository provide oversight over positions
Hedge fund case tests Ferc's anti-manipulation drive
A US Federal Energy Regulatory Commission probe into a little-known energy hedge fund has turned into an unusual public standoff. Now, the fund's founders are girding themselves for a long legal battle, which may set an important precedent for US energy…
European Repo Council chair threatens to call in EC over settlement times
Systemic risk associated with inadequate access to collateral has been cited as a result of the failure of ICSDs to speed up Bridge settlement
DoubleLine warns of debt rollover risk
Asset manager plans to be liquidity provider if US credit market is distressed
A global outlook on hedge fund regulations | Part 3: An Asian perspective
Leigh Walters, global head of sales and partners at DTCC gives an Asian perspective on hedge fund regulation
Third-party admin adoption all but complete for hedge funds
Respondents to eVestment’s alternative fund administrator survey expect segmentation in the industry between those servicing the needs of very large versus emerging hedge fund managers and for providers to increasingly focus on independent depository…
Combine market, credit and liquidity risk simultaneously
Market risk and credit risk are usually measured separately with liquidity risk added as an afterthought
A global outlook on hedge fund regulations | Part 2: The impact on operating models
Hedge Funds Review convened a panel of industry experts to discuss the impact on operating models
Pressure builds on CFTC to outlaw post-trade name give-up
Controversial practice will not ‘go away’ without action from regulators
Lyxor: index funds may have weakened corporate governance
Hedge fund activism is seeing an uptick, matched by strong returns, but does the strategy always extract long-term value for shareholders?
Robert Litterman: lessons from the quant quake
Crowding, too-big funds and too much equity exposure are the biggest dangers for quant fund returns, says Robert Litterman, co-founder of Kepos Capital – lessons he learned at Goldman Sachs, when the quant sector suffered a meltdown
BlueCrest: fixed-income market structure faces uncertain future
BlueCrest Capital Management chief operating officer Peter Cox talks about managing regulatory, market, liquidity, counterparty and cyber risks
Profile: Citadel's Hamill on the fight for swaps market share
The arrival of swap execution facilities was supposed to herald a new era of swap market competition. Citadel Securities was the first new entrant to take the challenge, and its fixed-income execution head talks here about how the firm is trying to make…
Full capital structures allow revival of synthetic CDOs
The tranching and distribution of risk on portfolios of credit default swaps is back, with issuance reaching $20 billion last year, but it bears the lessons of the crisis. Deals are simpler and more balanced, banks are retaining less risk and growth is…
Deutsche Bank places faith in ‘structurally changed’ CTAs
CTAs have had a torrid time through the QE years, but new managers – and old ones who have redoubled their research efforts – give Deutsche Bank AWM optimism for the industry
Mifid II threatens dealing commissions and broker research
Ring-fencing research pots will be frustrating for hedge funds whose brokers must separately identify transaction execution and research costsinducements
Hedge fund ETFs ruffle active managers
Some ETF providers say they can replicate hedge fund returns at a cheaper rate than the industry. Funds of hedge funds point out the difficulties
China's clearing and reporting regimes being built bottom-up
China’s derivatives market will be built on the back of G20 reforms, giving one of the world’s largest economies a swaps market designed from the ground up for transparency, regulatory oversight and management of systemic risk
Radical change needed to close hedge fund gender gap
Asian hedge funds rank in gender equality while Europe lags the pack, research finds
Evasion concerns hamper Mifid package trade fix
Market participants are lobbying Esma to exempt illiquid package trades from Mifid’s trading and transparency obligations.
Japan equity derivatives trading stalls on Nikkei 15-year high
Abenomics drove a surge in Japan equity derivative activity but now cash investors dominate