Monday, March 9, 2009

Prime Brokers Move Away from "Give-Up" Arrangements

The Financial Times reports that many prime brokers are informing hedge fund clients that "give-up" services will cease as of April. "Give-up" services allowed a fund to trade OTC derivatives with different counterparties. At the end of each trading day, the prime broker brought all of the trades under its platform, which simplified the process for managing these derivatives, including the posting of collateral and reconciling trades.

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Hedge Fund Assets Fall in 2008

Hedge fund assets totaled approximately $1.8 trillion globally at the end of 2008, according to London-based, organization, Hedge Fund Intelligence. This represents a significant departure from a previous estimate, which targeted hedge fund assets to be $3 trillion by the end of last year.

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European Private Equity and Venture Capital Industry Group Responds To Increased Regulatory Scrutiny

The European Venture Capital Association has submitted a formal response to concerns by the European Parliament and European Commission regarding the private equity/venture capital industry in Europe. The new professional standards proposed by the EVCA, based on a self-regulatory regime, protect the important role the industry plays in providing financing to a wide range of European companies while ensuring a higher degree of oversight.

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