Sat, Feb 25, 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. Opalesque Exclusive: Swiss investors take fund seeding and acceleration into their own hands[more]

    Benedicte Gravrand, Opalesque Geneva: Banque Bonhote, a 200-year old Swiss private bank, last year launched a community of investors - heads of Swiss family and advisory offices and wealth managers - with the aim of co-investing in the kind of managers they wanted to invest in, either by way of s

  2. K2 Advisors : Why We Like Activist Hedge Fund Strategies and Some Thoughts on Alpha[more]

    Matthias Knab, Opalesque: Rob Christian, Senior Managing Director, Head of Research K2 Advisors, Franklin Templeton Solutions, writes on Harvest Exchange: When d

  3. Ex-Navy SEAL backed by Mario Gabelli, Jean-Marie Eveillard and other value giants off to strong start[more]

    From Valuewalk.com: Sententia Capital Management is not your average value focused hedge fund. The fund was founded by Michael Zapata, a former Navy Seal Team 6 Officer and has attracted funding from some of the best-known names in the value space. Mario Gabelli, Jean-Marie Eveillard from First Eagl

  4. Europe - 1 trillion euro non-performing loans are clogging EU lending channels[more]

    From Centralbanking.com: As much as 1 trillion euro of non-performing loans (NPLs) are still clogging the lending channel in the European Union. An EU asset management company (AMC) could address market failures in the secondary market for NPLs as part of a suite of measures designed to tackle the b

  5. Investing - Hedge funds' novel approach: investing for longer at lower returns, U.S. hedge fund Delta Partners lifts stake in Bellamy's, Hedge funds stockpile cobalt, electric carmakers on battery alert, Facebook is racking up the likes among the world's biggest hedge funds, Einhorn affirms gold on Trump uncertainty[more]

    Hedge funds' novel approach: investing for longer at lower returns From FNLondon.com: Hedge funds are known for making short-term bets, dipping quickly in and out of markets to take advantage of swings in prices. But, under pressure to innovate, some big-name managers are looking at ways