Tuesday, 21 October 2014
Last updated 10 hours ago
Oct 31 2012 | 11:10am ET
Taiwan's SinoPac Financial Holdings is heading to Asia's most important hedge fund center to gain a foothold in the hedge fund administration business.
The investment bank plans to launch the administrator, SinoPac Solutions+Services, in December under former Citigroup executive Steve Bernstein. The new business will target smaller hedge and private-equity funds in the region, those with less than US$100 million in assets under management. Bernstein told the Taipei Times that there are more than 1,000 such funds in the region, about 85% of the Asian hedge fund industry.
"The bigger funds all have great services," Bernstein said. "The small funds either have to go to multiple providers for different services or they are getting charged a lot."
Bernstein said two new Asia hedge funds have already spoken with SinoPac about becoming clients. Bernstein said he hopes initially to bring on about one client per month.
The move comes as SinoPac also seeks a banking foothold in mainland China—it is the first-ever Taiwanese lender to win Chinese approval to launch a subsidiary. That business is also expected to get off the ground next year.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...