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Alternative Market Briefing

Convergence: Trends in alternative asset management are leading to greater operating complexity

Thursday, May 07, 2015

Benedicte Gravrand, Opalesque Geneva:

Convergence Inc., a data provider based in South Norwalk, Connecticut, has just produced a report detailing its annual research insights into the alternative asset management industry, with data and analytics sourced from 15,000 Form ADVs and brochures filed by non-exempt and exempt investment advisors for the 12 months ended March 31, 2015. The report focuses on business trends among alternative asset managers, as well as related assessments of changes in operating complexity and risk, and changes in operating productivity.

"The proliferation of new products and new distribution channels along with increased demands for transparency has significantly altered the demands on the infrastructure of alternative asset managers," the report says. "These trends lead to greater operating "complexity", which results in more process requirements and higher operating costs in order to address a higher level of operating risk. It has become increasingly common for investors and allocators to spend more time and attention on operations-related due diligence efforts than on portfolio management matters."

2014 was a record year for the number of hedge fund closures, the number of hedge fund launches and overall asset growth, the report says. The alternative asset management industry (defined as unique managers repo......................

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