Prime broker power shift
By Katrina Dean Allen
Sun May 1, 2011
J.P. Morgan expands lead, with Goldman Sachs a close second and Morgan Stanley a distant third.
AR MAGAZINE'S THIRD ANNUAL prime brokerage survey measures
prime brokers' market share among hedge funds that report to
the AR database. The results here are compiled from an analysis
of 2,547 mandates reported by hedge funds. This year 2,156
funds indicated which prime brokers they employ. Many hedge
funds report using multiple prime brokers despite doing the
bulk of their business with one or two favorites.
In the absence of detailed information on the breakdown of
the business among prime brokers used by a fund, AR divides the
assets of these shared mandates equally among the listed prime
brokers. The survey thus offers a useful but only partial view
of the industry, capturing the prime brokerage choices of those
funds managing nearly 89% of the total assets covered by the AR
As part of AR's prime brokerage survey, "The shifting
landscape" explores the new environment for...
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