Wednesday, 1 October 2014
Last updated 12 hours ago
Feb 23 2012 | 5:04am ET
One of the world's most prominent hedge funds is changing administrators.
Marshall Wace Asset Management will transfer its US$6 billion in assets from Citigroup's Hedge Fund Services arm, which has handled the London-based firm's funds for 14 years, to Citco Fund Services. According to HFMWeek, the switch from Citi was not based on that firm's performance.
Instead, Marshall Wace hoped to "test the state of the market" when it decided last year to look at other administrators. "In the middle of last year we spoke to directors and thought that, given the pressure on prices and technological developments in the admin market, it was sensible to put out a request-for-proposal."
Marshall Wace investors have not yet been informed of the change, expected to be completed by April.
Citco is the world's largest hedge fund administrator with more than US$500 billion in assets under administration.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...