Editor's View: 28 Jan 2010

Party prime

Aas we all know, the big prime brokers often put on weekend information events for their clients, which take place anywhere from Monte Carlo to Barcelona to Lisbon. As well as providing a good agenda of speakers, it is common knowledge that the location can be an even greater lure for the hedge fund managers and investors.

However, one COO told HFMWeek that he found his prime broker’s current events “pretty boring”, but that he would be encouraged to go if the location was exciting enough. He proposed “Ibiza or Verbier” as possible new event destinations, shocking HFMWeek with the implication that hearing about the latest industry information wasn’t his top priority for a weekend away courtesy of his prime broker.

Still, the likelihood of one of the big banks choosing Ibiza as the setting for an informative business weekend remains slim, sparing the COO in question from having to concentrate on the speakers’ agenda after a night raving it up on Bora Bora beach. However, HFMWeek hears that Credit Suisse did choose Verbier as a previous setting for one of their weekend events, so maybe the fun-loving COO just needs to change prime broker.…

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What's in a name? Nextam Partners

The meaning behind the name of Nextam Partners stems from a fact which sets it apart from other asset management firms in Italy. Nextam, which stands for Next Asset Management, was the first asset management firm to be created and administered by fund managers in Italy. Partner Carlo Gentili tells HFMWeek, “we called the firm Next, which in this case means different,” referring to the firm’s position as the first of its kind.

Unlike London or New York, within the Italian financial industry most asset management companies are created by banks or people without experience in the asset management sector, making Nextam unique in Italy.

The founders of Nextam Partners are a team of fund managers, who have worked together for over 12 years. They decided to create a company totally independent of banking and insurance systems in Italy, to avoid conflicts of interest which are so common in the Italian fund management industry.

The firm invests in public equity and fixed income markets across the globe. It primarily invests in growth stocks employing a fundamental analysis with an active management approach. Nextam Partners is based in Milan

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My life in hedge funds: Francis Rainsford

WHEN DID YOU START YOUR CAREER IN THE HEDGE FUND INDUSTRY?
I started my hedge fund career in 1989 when I joined Rothstein Kass, an accounting firm that foresaw the growth of the hedge fund industry. At Rothstein Kass, we saw the potential in providing fund administration services to hedge funds. RK Consulting grew rapidly into a leading provider by marrying a professional services staff with advanced technology. The same opportunity was the driver in my joining the Viteos Fund Services team.

HOW HAS THE FUND ADMIN SPACE CHANGED OVER THE PAST 20 YEARS?
In the early days, there wasn’t a lot of oversight or regulations in the industry and, as a service provider, there were grey areas that needed to be made black and white. Now, 99% of what we see in the way of accounting, tax and compliance is standardised. Service offerings have changed over the years, to the point where, today, clients look to administrators for solutions to their operational and reporting needs.

WHAT IMPACT HAS THE RECENT MARKET TURMOIL HAD ON FUND ADMINISTRATORS?
Clients and investors are now demanding greater accountability and reporting from administrators. Administrators are examined to see if…

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What's in a name? Hazel Capital

Hazel Capital is named after the hazel bush. The idea of a sustainable cycle appealed to the company, so they chose to name their company after this renewable resource, which grows new stems every spring.

The name is particularly fitting in light of the fact that Hazel Capital invests exclusively in ‘cleantech’ sectors, which they say, “help overcome global resource constraints and achieve a sustainable environment.”

In-keeping with their environmental philosophy, Hazel Capital named their hedge fund the Santa Ana global long/short equity fund when they launched it in September 2007. The fund was named after the Santa Ana Mistral Winds which blow through the Mojave Desert in California. California was at the forefront of the ‘cleantech’ sector during the 1980s and is today again leading the way in terms of investment into emerging companies in this sector. The name was deemed appropriate as wind is today’s second most exploited renewable energy resource, after hydro.

Hazel Capital was founded in 2007 by Ben Guest, who has invested in technology including ‘cleantech’, for over ten years at Cantillon and Lazard

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