Tuesday, 30 September 2014
Last updated 3 hours ago
Jul 16 2009 | 11:02am ET
So much for family ties: FrontPoint Partners has dumped Morgan Stanley as prime broker to one of its funds, despite the fact that the Wall Street bank has owned the hedge fund for the past two years.
Rival UBS has taken over prime brokerage duties for FrontPoint’s offshore European fund, the hedge fund said yesterday.
A source close to Morgan Stanley told Wealth Bulletin that the move to UBS was less a reflection on the quality of Morgan Stanley’s prime brokerage services and more a concession to industry best practices, removing the potential for a conflict of interest.
“As a parent company, you can’t also be prime broker to the funds,” the source said.
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...