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From Kirsten Bischoff, Opalesque New York:
In a historic display of hedge fund investor strength, demand for increased transparency drove fund firms hoping to grow assets in the post-Madoff era to adopt third party administration as a "best practice", minimum standard even without a formal regulatory requirement.
The use of third party administrators may wind up being the most enduring cost of the liquidity and fraud issues the industry faced during 2008. Over the past months some of the largest, most well known firms have announced the use of third party administrators - however many opted to keep this to "NAV-lite", o...................... To view our full article Click here
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