October 09, 2006
Outsourcing Of Hedge Fund Functions May Provide Transparency
To cut costs and improve the service to clients, hedge funds have of late been outsourcing certain key functions. These functions include confirmation of over-the-counter derivatives trades, reconciliation of trades done across multiple prime brokers and daily profit and loss reporting. Financialnews-us.com reports:
The shift is likely to provide the Securities and Exchange Commission, the US regulator, with more transparency about trades done by the estimated 8,800 US hedge funds. Third-party providers will supply verification of a hedge fund's assets - something that was lacking while hedge funds kept the middle office in-house.
Read more: Hedge fund transparency
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Posted by: Iris | Oct 10, 2006 2:37:06 AM
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