Thu, Jan 19, 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. The Big Picture: The case for emerging market debt in 2017[more]

    Benedicte Gravrand, Opalesque Geneva: Emerging market (EM) assets outperformed in 2016 mainly because of stronger fundamentals and an improving international environment, with GDP picking up speed, leading to positive earnings revisions for the first time in five years,

  2. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  3. Short Selling - Long-short hedge funds are ditching the shorts to focus on longs[more]

    From Bloomberg.com: What happens when you take the "short" out of a long-short trading strategy? Some hedge funds are about to find out. Equity long-short fund managers, the biggest category in hedge funds, hold the fewest bearish stock bets on record, data compiled by Credit Suisse Group AG s

  4. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  5. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee