Performance is a combination of intelligent investing and
is not necessarily a happy time for many hedge fund managers.
Volatile markets have exposed the failings of a number of
investment strategies and left many funds concerned about where
they might find their financing. But these worries are really
only the beginning. Even before the recent market turmoil, it
was becoming apparent the industry itself was being
re-engineered. Investors may be wary of todays markets,
but they accept the risk as the cost of doing business. What is
unacceptable is operational risk: the risk that investments are
in jeopardy because a fund manger can not run itself
Hedge funds have grown from a community of mainly small
privately-owned businesses into larger, more complex
organisations. Along the way, the importance of robust
operational platforms has become ever more obvious. For hedge
fund managers, the question is...