Since the start of the year, the increasingly ferocious influx of institutional money, along with an unrepentant credit crunch, has continued to change the world’s hedge fund markets. Some things, however, haven’t changed: The US east coast remains the global hub for hedge fund management and the Canadian province of Nova Scotia continues to go from strength to strength.

Of course, such prominent status has meant the east coast of North America has been afforded a front line view during the events of the past 12 months. Yet, while there has been no hiding the casualties, the industries scars have, if anything, given them a more resolute stance and a refreshed perspective. In this, HFMWeek’s fifirst US and Canada Special Report, such reinvigoration is clear.

The due diligence process is just one area that has benefited from the industry’s adapted attitude. Julian Korek and Neil Morris of Kinetic Partners discuss the issue in this report’s inaugural piece; highlighting how the current market uncertainty has, in fact, accelerated the move towards improved transparency.

For those companies looking to re-evaluate their options in light of the crunch, Stephen Lund of Nova Scotia Business suggests that there is no better time than the present to look across the border. Nova Scotia, he says, is the prefect option for those seeking alternatives, but who also want to maintain close links with New York.

Tennyson Fund Solutions' Tony Stocks and Tom Franco follow this by addressing the key questions levelled at boutique fund administrators. At a time when the industry cries out for closer business relations and clearer communication, their type of personal operation is of ever-increasing relevance.

Continuing the theme of increasing industry pertinence, Ron Geffner of Sadis & Goldberg looks to some recent headlines triggered by high-profile liquidity crises. More importantly, though, Geffner outlines the four tools that can help prevent repeats and stop a hedge fund manager liquidating a fund’s portfolio prematurely.

In the report’s final piece, Darren Stainrod of UBS assesses the pressurised environment in which the modern day fund administrator works. Increased scrutiny, an issue central to Korek and Morris’s opening piece, is referenced throughout, with Stainrod suggesting that the move towards a more detailed process has, from an institutional point of view, helped raise the bar a lot higher.

When you are at the top, sometimes, it seems, it takes a harsher reality to help you reach the next level. As the region continues to man the battle stations during the most turbulent financial crisis of recent times, the continued might of Nova Scotia and the US east coast hedge fund industry can clearly testify that, with the right attitude; what doesn’t kill you, makes you stronger.

Tony Griffiths
Report editor

Download US and Canada 2009, Hedge Fund Manager Special Report

PDF format, 3.1MB, 20Pages.

IN THIS ISSUE
6 Proceed with caution and due diligence
Julian Korek and Neil Morris of Kinetic Partners tell HFMWeek how hedge fund managers should push for transparency in their dealings and not be complacent in these uncertain times

8 The Nova Scotia success story
Stephen Lund of Nova Scotia Business tells of the jurisdiction’s increasing significance in the hedge fund sector, explaining its advantages over its US east coast neighbours

10 A personal approach
Tony Stocks and Tom Franco of Tennyson Fund Solutions talk to HFMWeek about the advantages of a smaller, more personalised boutique administrator

14 Managing liquidity in a hedge fund
Ron Geffner of Sadis & Goldberg outlines the tools that a hedge fund manager needs to deal with the liquidity crises that have been affecting the industry over recent months

17 Changing times
Darren Stainrod of UBS Global Asset Management believes future success lies with combining client-focused service with taking advantage of developments in technology

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