Holland & Knight LLP – On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act). The Act has several potential impacts on our clients and within the investment management community. “This memo is intended to summarize, in general, what we believe to be notable aspects [...]

Date: Thu, 29 Jul 2010 11:00:39 +0000

Holland & Knight LLP – The Securities and Exchange Commission (”SEC”) has adopted two different amendments to the Form ADV, Parts 1 and 2.  On December 30, 2009, the SEC amended the custody rule for SEC-registered investment advisers (”RIAs”) and announced revisions to Part 1 of Form ADV to require RIAs to report custody practices. On [...]

Date: Tue, 27 Jul 2010 11:26:36 +0000

Dow Jones Indexes, a leading global index provider, today announced enhancements to the methodology of the Dow Jones Global and U.S. Total Stock Market indexes as well as the Dow Jones Global Index. Effective with the open of trading on September 20, offshore-companies with a primary listing on a U.S. stock exchange will be eligible to [...]

Date: Mon, 26 Jul 2010 12:05:06 +0000

Stock Market Strategy: All signs point to a continuation of the current rally. We will continue to use the direction of liquidity and the behavior of the credit markets as our fundamental guides to equity investing. The primary news story making the rounds today involves the European bank stress test results. I have included the official [...]

Date: Fri, 23 Jul 2010 20:27:02 +0000

1 J.P. Morgan $ 53.5 2 Bridgewater Associates $ 43.6 3 Paulson & Co. $ 32.0 4 Brevan Howard $ 27.0 5 Soros Fund Mgmt. $ 27.0 6 Man Group $ 25.3 7 Och-Ziff Capital Mgmt. Group $ 23.1 8 D.E. Shaw Group $ 23.0 9 BlackRock (BGI) $ 21.0 10 Farallon Capital Mgmt. $ 20.7 11 Baupost Group $ 20.0 12 King Street Capital $ [...]

Date: Fri, 23 Jul 2010 11:12:07 +0000

BNP Paribas won the award for ‘Hedge Fund Administrator of the Year – Americas, less than $50Bn assets under administration’ by the International Custody and Fund Administration (ICFA). “This is an important achievement for BNP Paribas, especially in the US, because it reflects how enterprising we are in developing innovative solutions to exceed our clients’ needs,” [...]

Date: Fri, 16 Jul 2010 11:55:31 +0000

I must begin today’s missive with an ebullient congratulations to my good friend Blaine Bell! The wedding in Napa Valley this past weekend was beautiful, the bride radiant and the party atmosphere prodigious. While my computer did make the trip to Napa, it was used for portfolio management only. Any free time this past week was [...]

Date: Thu, 15 Jul 2010 14:41:29 +0000

“I must concede that my occupation, active money management, may be one of the best examples of the illusion of control in the professional world.” – Michael Mauboussin. If ten randomly selected people play Federer in tennis, they will, with a very high probability all lose. You would get the same outcome if ten people play [...]

Date: Wed, 30 Jun 2010 17:29:44 +0000

Jason Scharfman, author of  Hedge Fund Operational Due Diligence, and Managing Partner at Corgentum Consulting, LLC., has released a new study of operational due diligence trends. “We gathered data from over 200 hedge fund allocation organizations and noted trends in their due diligence processes. The paper also looks at the effects of fraud in guiding investor [...]

Date: Wed, 30 Jun 2010 12:59:29 +0000

In response to growing demand by hedge funds for independent safekeeping of their assets, BNY Mellon has been chosen by Goldman Sachs International (GSI) to provide a segregated sub-custody service to GSI’s prime brokerage clients through Montague Place Custody Services (”MPCS”). “Prime brokers are looking to trusted providers like BNY Mellon to deliver a seamless offering [...]

Date: Tue, 29 Jun 2010 12:18:57 +0000