Adapting businesses to the new environment
Wed Feb 23, 2011
How are Asian hedge funds modifying or rebuilding their business model?
Aradhna Dayal: How do you see Asian
hedge funds modifying or rebuilding their business model to
cope with the new world?
Ray Kwok: Investors are clearly looking to
spread the counterparty risk, and what we've found in the last
year is that we have opened a number of managed accounts -
again very client-driven. The clients come to us and say, "We
like what we see, but we'd like to add a little bit more to
it," and often they like to have a separate administrator, a
separate custodian and commonly require two prime brokers.
Also, the investors require more transparency in the data, down
to the trade level.
Brian Pohli: On having the right investor base, I think it
comes down to an alignment of skill sets. If someone came in
and said, "We want to be a private equity firm that invests in
soccer teams," obviously...
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