Aug. 4, 2016
Aug. 4, 2016
Despite Significant Redemptions, Credit Suisse Survey Finds Investors Remain Committed to Hedge Funds
Credit Suisse Capital Services (CS) recently issued its “Mid-Year Survey of Hedge Fund Investor Sentiment” (Mid-Year Survey) – a follow-up to CS’s annual global hedge fund investor survey (2016 Annual Survey). See “Credit Suisse Survey Reveals Growing Demand by Hedge Fund Investors for Managed Accounts, Long-Only Funds and Alternative Mutual Funds” (Apr. 7, 2016). The Mid-Year Survey focuses on hedge fund investor redemptions and reallocations in the first half of 2016, future allocation plans and strategy preferences. Among the survey findings, CS found a slight decrease in redemptions from the 2016 Annual Survey, a wide distribution in the driving factors behind investor redemptions and a substantial disparity in the types of investment strategies preferred among investors based on their geographic location. CS also found that investors remain committed to hedge funds, with the majority intending to redeploy redemption proceeds. This article summarizes the key findings of the Mid-Year Survey. For coverage of previous CS investor surveys, see “Investor Appetite for Alternative Investment Vehicles and Strategy Preferences” (Aug. 27, 2015); “Factors in Institutional Investors’ Investment and Redemption Decisions, Appetite for Alternative UCITS and Anticipated 2015 Hedge Fund Investments by Strategy and Region” (Mar. 27, 2015); and “Allocation Preferences of Hedge Fund Investors, With Particular Attention on Preferences of Pension Funds and Insurance Companies” (Mar. 14, 2013).
Read full article …Best Practices for Hedge Fund Managers to Adopt in Anticipation of Enactment of FinCEN AML Rule Proposal
After more than a decade in the works, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of Treasury, released proposed rules in August 2015 that will subject registered investment advisers to anti-money laundering (AML) regulation once adopted. See our two-part series on how hedge fund managers can respond to the AML rules proposed by FinCEN: “Establish an AML Program” (Nov. 5, 2015); and “Operate an AML Program” (Nov. 12, 2015). Cadwalader, Wickersham & Taft recently presented a program examining the current AML regime, the requirements of the proposed rules and how those changes will affect hedge fund managers. The program featured Maureen Dollinger, a vice president of financial crime legal at Barclays; Adam Gehrie, general counsel and chief compliance officer (CCO) of Gresham Investment Management; and Cadwalader partners Dorothy Mehta and Joseph Moreno. This article highlights the portions of the panel’s discussion most relevant to hedge fund managers and other investment advisers. For further insight from Mehta, see our two-part series on SEC remote examinations: “What to Expect” (May 12, 2016); and “How to Prepare” (May 19, 2016); as well as “Practical Guidance for Hedge Fund Managers on Preparing For and Handling NFA Audits” (Oct. 17, 2014).
Read full article …ESMA Limits Positive Recommendation for AIFMD Passport Extension to Only Five Non-E.U. Countries; Excludes U.S., Citing Uneven Playing Field (Part One of Two)
Recent Legislative and Judicial Developments Fail to Diminish Appeal of Stockholder Appraisal Actions As Strategy for Hedge Fund Managers
How Emerging Hedge Fund Managers Can Raise Capital in a Challenging Market Without Overstepping Legal Bounds
A “Clear” Guide to Swaps and to Avoiding Collateral Damage in the World of ERISA and Employee Benefit Plans (Part Two of Four)
Fried Frank Bolsters Tax Department in New York
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