Administrators look to independent valuation of complex securities to get a competitive edge
W hen it comes to landing hedge fund clients, competition among administrators can be fierce these days. Building a better mousetrap to value exotic and illiquid securities is one way to stand out. At least that's the experience of Fulcrum, a small Bermuda-based administrator that managed to snag business from the competition by its ability to value insurance-linked derivatives - and to do so quickly.
"What differentiated us was our ability to effectively use technology to create models for these types of instruments that don't fall into