Thu, Oct 2, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

North eastern US struggles back to business after ferocious Storm Sandy

Wednesday, October 31, 2012

By Beverly Chandler, Opalesque London:

The lion’s share of the global hedge fund industry found itself at the epicentre of the north eastern corner of the US that Storm Sandy hit with such ferocity on 29th and 30th of October. For the non-American hedge fund community, yesterday was as if someone had switched the power off in the US, as communications pretty much stopped and news, once the country reached daybreak on the 30th October, came in the form of increasingly shocking images of devastation and post-Apocalyptic scenes.

Time for all the disaster recovery and business continuity planning to step up to the plate but with Storm Sandy’s breadth of 800 to 1000 miles, concerns are that data recovery facilities might have been a tad too close.

One hedge fund administration consultant, interviewed by Opalesque, says: "I've done a lot of operational due diligence visits on the major East Coast fund administrators and they all have good specialist secondary disaster recovery sites - but they are always about 30-50 miles from their main office. This means that Sandy will have pounded both their primary and back up business sites - so it raises the question did their disaster recovery plans work and could they offer a seamless service to their clients? I would doubt it - if their staff couldn't even get to the back up sites. They may have been able to offer a skeleton service by people working from home - if they were lucky enough to have power!"

......................

To view our full article Click here

Banner

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. Legal - Court throws out lawsuits related to Fannie Mae, Freddie Mac profits, Insider case by SEC is a step removed from Herbalife itself, SEC grants Citigroup waivers, easing hedge-fund curbs[more]

    Court throws out lawsuits related to Fannie Mae, Freddie Mac profits From WSJ.com: A group of Wall Street investors on Tuesday suffered a blow in their attempts to sue the federal government over their treatment of the shareholders of mortgage finance giants Fannie Mae and Freddie Mac af

  2. Launches - Goldman Sachs Asset Management launches GS Long Short Fund, Western & Southern launching international hedge fund, Lansdowne Partners plans energy hedge fund, RBC Global Asset Management launches new RBC Funds (Lux) - Asia Ex-Japan Fund, PVE Capital latest credit strategy to launch on the Sciens managed account platform[more]

    Goldman Sachs Asset Management launches GS Long Short Fund From Marketwatch.com: Goldman Sachs Asset Management has announced the launch of the Goldman Sachs Long Short Fund, which pursues high conviction investment ideas in global equity markets through a fundamental, bottom-up approach

  3. CalPERS’ move might alter hedge fund fees for good[more]

    Benedicte Gravrand, Opalesque Geneva: When CalPERS, the California Public Employees’ Retirement System, announced on September 15th that it was unwinding its hedge-fund portfolio, it was seen by many as is a significant blow to the sector’s appeal. The Fund is

  4. Opalesque Exclusive: Institutions eye private credit over traditional fixed income[more]

    Bailey McCann, Opalesque New York: Investing in private insurance, realty tax receivables, or investment-grade short-term accounts receivable may not spring to mind as a means of mitigating risk in a portfolio, but one firm, New York-based BroadRiver Asset Management is out to change all that. Th

  5. Short-term trading quant fund beats S&P since '09[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A relatively new multi-strategy, market-neutral quantitative hedge fund has managed to outperform the S&P500 and the HFRX Global since 2009. New Jersey-ba