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Grigoriy Isaev Benedicte Gravrand, Opalesque Geneva for New Managers:

Participants at the recent Opalesque Russia Roundtable talked about the great number of hedge funds being launched in Russia, the reason why this is happening, and the hurdles they have to face.

Stephen Lewis from Maples Fund Services, an independent fund services provider, commented on the sheer quantity of new funds coming out of Russia, specifically Moscow.

"I am genuinely staggered by that," he noted. "Even more interesting is that I have seen more potential new launches on the hedge fund side in Moscow than I have seen in London over the last two years."

This is in part because of Moscow's entrepreneurial culture and the presence of a lot of youthful dynamism, he explained. "There are many young people who have been very well-trained. They have worked for various finance groups and are incredibly well-qualified and launching a fund may be a natural next step." Despite all this, there is still a need for education when it comes to the role of the fund administrator, he added.

Service provider hurdle In London, new hedge funds face lines drawn in the sand by prime brokers, investment banks and other service providers who are becoming more selective about who they will work with. The......................

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