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HFM Week Special Report: Changes and challenges

February 2010

Alan McKenna and Chris Foy of Equinoxe argue that meeting changes and challenges in the hedge fund industry head on can guarantee success.

Following the market contraction of 2008 and the subsequent rally of 2009, the outlook for 2010 may be somewhat uncertain, but one thing that is clear is that, whatever the outcome, the coming year will be one
of substantial change for those within the hedge fund industry. With changing regulations and increasing investor focus on transparency, liquidity and good corporate governance, fund managers and service providers alike will have to adapt the way in which they operate on a day-to-day basis if they are to ensure future success. The global fund administration industry in particular has changed fundamentally over the recent years and, according to Alan McKenna, chief executive officer of Equinoxe Alternative Investment Services Ireland, two major areas of development during this time have been: technology and attitude to risk. “In terms of technology, it used to be the case that companies were using either in-house developed software or an all-in-one fund accounting and transfer agency system,” explains McKenna. “In fairness, the reason the proprietary software market was rife, especially in relation to transfer agency was largely driven by a lack of suitably flexible and reliable options in the market. Companies had rightly developed their own internal software to meet the functional requirements of their client base.”

 


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