Tuesday, 21 October 2014
Last updated 3 min ago
Aug 23 2013 | 5:08am ET
Wells Fargo has ambitious growth plans for its Asian hedge-fund administration business.
The bank aims to increase the number of its clients in the region by 20% per year. Wells opened a Hong Kong office in December.
“In terms of geographic expansion, we’re looking more towards funds in Hong Kong,” the business’s CEO, Christopher Kundro, told Bloomberg News.
Wells currently services 20 hedge funds in Asia and has been seeing growth of about 10% to 15% per year.
Kundro said Wells is particularly targeting smaller funds. “Given the size of some funds in Asia, they effectively has a lot of benefits outsourcing that function,” he said. “We’re not trying to be a hundred-billion-dollar administrator.”
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 ...