By Claire Makin
Lyxor Asset Management believes that managed accounts are a
lifeline for the hedge fund industry. By allaying investors'
worst fears, managed accounts are helping them to regain the
trust in hedge funds that they lost in 2008, according to
Nathanäel Benzaken, who heads managed account development
for Lyxor. "Managed accounts are one of the few catalysts that
can encourage institutions to allocate in big size to hedge
funds," he says.
The idea of managed accounts as a white knight for the
industry is difficult to prove, but it works for Lyxor, which
operates one of the industry's largest single managed account
platforms with almost $11 billion in assets. Deutsche Bank's
two platforms, added together, give it a slight edge in terms
of assets under management
(see Koris International, below).
Lionel Paquin, head of the Lyxor platform, describes it as