Friday, 29 August 2014
Last updated 8 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...