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From Kirsten Bischoff, Opalesque New York:
According to research by Cerulli, the managed account industry has declined 28.8% since the 2007 start to the financial crisis. However, in the long run, the financial crisis may be a boon to this area as revelations of fraud and the poor behavior on the part of some managers (ie, gating assets) have served to ignite a desire in investors looking for greater control of their invested assets. A recent Barclays report showed the firm has expectations of $50bln flowing back into hedge funds this year (mainly through pension funds and institutional investors), and we can expect a large amount of this to be placed into managed accounts.
Richard Del Bello, Senior Partner at hedge fund service provider Conifer Securities recently told Opalesque about the increased interest they are seeing in these accounts. "Investing through separate accounts has become very popular. For new money coming into hedge funds, most institutions today, are asking if separately managed accounts can be handled by Conifer's clients and what the minimum investment is for that". (Source)
Who controls the assets?
With a new focus on investment structures that allow for greater transparency, or keeping funds from being comingled with investors that have different liquidity needs managed accounts...................... To view our full article Click here
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