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From Kirsten Bischoff, Opalesque New York:

Most hedge funds have exceeded their 2007 high water marks. However, market volatility has hampered many funds and they now approach mid-year with YTD earnings of around 3%-4%. Add to this the fact that asset bases are still significantly diminished, there is additional pressure on managers to lower fees and increase liquidity in order to gain investments, and many managers will tell you that finding money for infrastructure improvements is a challenge.

"All businesses have discretionary and non-discretionary spending. Unfortunately, I think for hedge fund managers, the non-discretionary budget is growing larger and larger as there are increased expectations from regulators and investors around the kinds of reports managers are expected to produce," Bob Contri commented to Opalesque. Contri, who was recently named head of the US financial services industry group at professional services firm Deloitte says that the firm has been advising many clients who are focused on making infrastructure build-outs as efficient as possible, which requires a holistic approach.

Many hedge fund firms are looking at the very least at adding on an additional staff support or consultant to oversee compliance once registration requirements kick in. They are additionally trying to satisfy the reporting demands of investors and anticipate reporting requirements from the SE......................

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