Fri, Oct 20, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

IMAS: Q3’s data shows Q2 was a temporary blip in the steady progress of a recovery in the UK financial services industry

Tuesday, November 30, 2010
Opalesque Industry Update - Recovery in Q3 2010: are we back on track?

Report's summary:

Approved Persons and net new business authorisations back up

Following the decline in Approved Person and net business authorisations in Q2 2010, Q3 2010 shows an improvement in Approved Persons employment and net new corporate authorisations.

Net FSA authorisation of new entities is now at its strongest position since Q2 2008 with the potential prospect of net positive authorisations (after cancellations) in the foreseeable future. This has only been achieved in one quarter (Q2 2007) over the past four years.

After concerns of a double dip in the last quarter, this quarter’s data appears to suggest that last quarter was a temporary blip in the steady progress of a recovery in the UK financial services industry.

Hedge fund authorisations up in the quarter although overall

Approved Person employment down year to date Authorisation of new hedge funds has seen strong growth in Q3 2010 at over one third of all new authorisations in the ‘Financial Investment’ sector and over 50% increase on Q2 2010.

Year to date, however, large hedge fund employment is down 24%, with over 85% of large hedge funds showing flat or reduced Approved Person employment in the first three quarters of 2010.

Consistent overseas interest throughout 2010 with North America

continuing to consolidate its leadership role Despite weaknesses in the global economy, overseas investors have continued to consistently support newly authorised entities throughout 2010, representing between 12% and 18% of all quarterly authorisations excluding IFAs.

North America also continues to build its presence given its interest in 52% and 58% of the overseas-owned authorisations in Q2 2010 and Q3 2010 respectively.

Again, the significance of the emerging markets continues with Asia and Africa together surpassing Europe’s ownership of newly authorised entities in Q3 2010.


Full report "Recovery in Q3 2010: are we back on track? Trends in the regulated UK financial services industry
FSA Review - Third Quarter, 2010 - Including special section on hedge fund employment": Source


About IMAS Corporate Advisors
IMAS is a corporate finance adviser specialising in managing sales of financial services businesses in the UK. We advise owners on all stages of the disposal process, from the initial preparation for the transaction through to its completion. www.imas.uk.com.


BG

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From CNBC.com: David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From TheIintercept.com: Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From Cityam.com: An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From Forbes.com: In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad