Fri, Sep 30, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The probable rise of managed accounts (2) - Innocap sees greatest number of due diligence through Summer 2009

Thursday, August 20, 2009

From Kirsten Bischoff, Opalesque New York:

This is the second article of a four-part series.

Call it the calm before the storm. Managed accounts, which received so much attention in the months following the revelation of the Madoff fraud, have faded out of the news. However, this is due to the information gathering and due diligence procedures needed by large investors preparing to move portions (or all) of their hedge fund positions onto managed accounts.

"March and April is when we heard investors talking about managed accounts to increase transparency into hedge funds. What followed was a period of fact finding," Martin Gagnon, Co-CEO, Innocap Investment Management Inc told Opalesque. "We have never seen as many due diligence requests as we did during the months of May, June, and July."

The latest announcement in favor of managed accounts came in late July when Union Bancaire Prive (UBP) was reported to be restructuring much of its absolute return portfolio. The overhaul will include moving approximately 70% of hedge fund investments into managed accounts.

Such moves by institutional investors are evidence of the intricate network of operations that needs to be established in order to run a large managed account platform.

Montreal-based Innocap, which is owned by two large banks was established 13 years ago in July 1996. This backing allows the platform the resources to include relation......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  2. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  3. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  4. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style

  5. Eden Rock buys Gottex stake in ERG Asset Management[more]

    Matthias Knab, Opalesque: Eden Rock Group announced the purchase of Gottex’s stake in ERG Asset Management and so the firm is now wholly owned by Eden Rock. The two firms established the joint venture in 2011 to focus on providing cost effective solutions to funds holding illiquid investments, as