Andrew Lo Video

Here is another video of Andrew Lo seen on Fox Business News. This video discusses whether the Obama administration is targeting hedge funds unfairly right now. Lo believes that the US government is serious about regulating hedge funds but at the same time hedge funds are not at the center of this crisis and they are at the center of the solution to this crisis.

A great quote, “more than ever hedge funds have lately become a kind of bad word.”

Another…

“Right now hedge funds are the only game in town for investors who are seeking talented management right now.”

Please click on the picture below to watch this video:

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Tags: Andrew Low, Pension Funds, Hedge Funds, Hedge Fund, Investments, Alternative Investment, Brokerage, Banking

Here is a short list of prime brokerage services:

• Lending Securities
• Hedge Fund Startup Services
• Accessing local shares abroad
• Cash Management
• Capital Introductions – Asset Raising
• Real Estate Identification or Office Space – Hedge Fund hotels
• Access to Hedge Fund Lawyers focussing on hedge fund clients
• Headhunting & talent identification to help build portfolio management teams
• Third Party Marketing Due Diligence
• Clearance & Custody of Assets
• Portfolio Reporting
• Branding & Marketing
• IT Consultations
• Compliance & Risk Management

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More prime brokerage firms are adding on administration services to help attract and retain clients. I wasn’t sure how widespread of a trend this was but saw this mentioned within an article yesterday as noted below. I would be interested in discussing this further with hedge fund managers reading this article – if you have some insight – Richard@HedgeFundGroup.org.
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In recent years, the custodian banks that have acquired hedge fund administrators have sought to adjust client lists in favor of larger and more profitable hedge fund and fund of funds groups interested in a broader array of services. At the same time, prime brokers have recognized that providing administration services can help attract and retain clients and counter the shift among hedge fund managers towards multiple prime brokerage.

“It would be surprising if the hedge fund administration industry continues to support such a large number of providers, and there is now evidence that a renewed round of consolidation is in the offing,” says Dominic Hobson. “However, the appetite to sell may be offset as well as encouraged by the depressed prices available. In any event, the buyers are likely to be different from the banks which dominated the acquisition process in the early years of this century.” Read more…

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• Capital Introduction
• Prime Brokerage
• Hedge Fund Services

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Tags: Prime Brokerage and Hedge Fund Administration Services, Prime Broker offering administration services, administration services from prime brokerage firms, which prime brokerage firms offer hedge fund administration services

More prime brokerage firms are adding on administration services to help attract and retain clients. I wasn’t sure how widespread of a trend this was but saw this mentioned within an article yesterday as noted below.
__________________

In recent years, the custodian banks that have acquired hedge fund administrators have sought to adjust client lists in favor of larger and more profitable hedge fund and fund of funds groups interested in a broader array of services. At the same time, prime brokers have recognized that providing administration services can help attract and retain clients and counter the shift among hedge fund managers towards multiple prime brokerage.

“It would be surprising if the hedge fund administration industry continues to support such a large number of providers, and there is now evidence that a renewed round of consolidation is in the offing,” says Dominic Hobson. “However, the appetite to sell may be offset as well as encouraged by the depressed prices available. In any event, the buyers are likely to be different from the banks which dominated the acquisition process in the early years of this century.” Read more…

Permanent Link: Prime Brokerage & Hedge Fund Administration
Tags: Prime Brokerage and Hedge Fund Administration Services, Prime Broker offering administration services, administration services from prime brokerage firms, which prime brokerage firms offer hedge fund administration services

In May, HFN Hedge Fund Average Aggregate was +2.02%, and the S&P Total Returns Index was +1.30%. The energy sector continued to rise this year with the HFN Energy Sector Average at +4.38% last month. The equity markets’ success seems to have led to the HFN Long/Short Equity Average outperforming the S&P Total Return Index, yielding +2.76.

In regional benchmarks, while hedge funds investing in China and India performed dismally, funds investing in Russia and Brazil boosted the Emerging Markets Average to +2.55%. Hedge funds using the long only strategy have performed poorly this year but improved thanks to the global equity markets, the Long Only Average was %3.41 in May. Investors have shown dissatisfaction with the technology sector through redemptions and liquidations. Total assets in tech sector funds fell 10.89% in Q1 of 2008, yet the Technology Sector Average was one of the best performers in May at 3.46%.

- Richard

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US Prime Brokerage

US Prime Brokerage Commentary

I recently commented about how unwise it was to only have one prime broker and separately about how concerns were starting to focus on Morgan Stanley and Goldman, something that would have until this weekend seemed laughable.

Well, it appears that prime brokerage clients of Morgan Stanley and Goldman have started getting jitters, to the delight of other prime brokers with banking parentage. With Lehman Administrators confirming that there would be no early return of Prime Broking client assets, hedge funds are starting to look at migrating some of their business.

Until now, Goldman and Morgan Stanley were the prime brokers firms wanted to be with. They dominated the prime broking market and had their choice of which clients to accept. For most firms, an account with GS or MS was a seal of approval that they could show to investors, since those brokers didn’t accept “dodgy” accounts. Read more here…

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Lehman Prime Broker

Lehman Prime Brokerage Services

Barclays Plc, the U.K.’s third- biggest bank, will acquire the North American investment-banking business of bankrupt Lehman Brothers Holdings Inc. for $1.75 billion, three days after abandoning plans to buy the entire firm.

Barclays rose as much as 11 percent in London trading after it agreed to pay $250 million in cash for the Lehman operations and $1.5 billion for the New York headquarters and two data centers, it said today in a statement. The London-based bank plans to raise at least 600 million pounds ($1.1 billion) in a stock sale to help fund the deal and may buy other Lehman units.

“The purchase includes the equities and fixed-income sales, trading and research businesses, commodities and foreign exchange, merger advisory and prime brokerage units, Barclays said.” Read more…

• Lehman Brothers Bankruptcy

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