November 17, 2010
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Trends - McGladrey survey: Mid-sized hedge funds at crossroads; must reassess business models, The 60-second guide to what hedge funds are buying and selling right now, Fund manager sentiment jumps, but warnings loom, Asset and wealth management firms aggressively preparing for post-meltdown competition
McGladrey survey: Mid-sized hedge funds at crossroads; must reassess business models
New research released today by RSM McGladrey, a leading professional services firm providing tax and consulting services under the McGladrey brand, reveals that mid-sized hedge funds with $100-$500 million in assets are facing a "reality gap." While nearly 95 percent of the hedge funds surveyed by Greenwich Associates believe they can meet institutional investors' demands, only 22 percent have more than one full-time employee responsible for client service, and only 9 percent have highly automated reporting systems.
"Attracting institutional assets will require new ongoing personnel expenses for the majority of mid-sized hedge funds, as well as significant up-front investments in technology to increase reporting capabilities," said Alan Alzfan, a managing director in the Financial Services Group at RSM McGladrey, Inc. "Mid-sized hedge funds must understand that implementing best practices for a truly institutional platform is not an overnight process - it can take more than a year in many cases."... Full press release: Source
The 60-second guide to what hedge funds are buying and selling right now
From Businessinsider.com: The big story from last quarter is that hedge fund managers bought gold and sold financials.
But other trends emerged in the latest 13f equity holding filings, too, like selling data companies and buying healthcare companies... Full article: Source
Fund manager sentiment jumps, but warnings loom
From MarketWatch.com: Fund managers across the globe are more bullish than at any time since April, according a survey released Tuesday. The Bank of America Merrill Lynch Survey of Fund Managers for November found that a net 41% of fund managers are overweight stocks, compared to 27% in October, while a net 56% were overweight in emerging markets, close to an all-time high.
But while the survey results suggested the Federal Reserve's new round of quantitative easing and good macroeconomic data have raised hopes, there are growing worries about inflation and warning signs of a near-term market correction... Full article: Source
Asset and wealth management firms aggressively preparing for post-meltdown competition
After two years of contraction, hiring in the asset and wealth management industry rebounded in 2010, and compensation is set to show modest gains, according to a new report by global executive search and assessment firm Russell Reynolds Associates.
"Firms are still trying to do more with less and thinking hard before spending on new hires," said Deb Brown, a managing director in the firm's Asset and Wealth Management practice. "But they are also choosing where they want to make their mark in the new environment, and deliberately and strategically building in that direction." As a result, certain functions and specialties are starting to see upward compensation pressure to attract or retain key personnel. But while overall U.S. compensation is set to increase 10 to 15 percent this year, compensation in Canada, Europe and Asia is expected to jump 15 to 20 percent, although bonus pools will be finalized later this year than in previous years.
The fourteenth annual report, Navigating the New Terrain in the Asset and Wealth Management Industry, released today, is a qualitative review of talent and compensation trends within both traditional asset and wealth management firms and those focusing on alternative investments, including hedge funds, real estate, and private equity, in the Americas, Europe and Asia/Pacific... Full press release:
Article Source: http://www.businesswire.com/news/home/20101116005859/en/Asset-Wealth-Management-Firms-Aggressively-Preparing-Post-Meltdown
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