Gwyn Roberts

16/02/2011 Author: Gwyn Roberts

Editor's view: 17 February 2011

Evolution is a favourite concept of the financial services sector. Strategies evolve, new opportunities are frequently described as ‘transformative’ – while there are enough ‘agendas for change’ in existence to pave Wall Street. There is also the less touchy-feely form of evolution – a ‘survival of the fittest’ mantra that accounts for the high staff turnover on some prop desks, and at certain hedge funds.

Post-crisis, evolution has picked up speed. Cynics will suggest the only real change has been one of PR and marketing, rather than a fundamental shift in attitudes. Those who follow hedge funds closely know different – and, in the week that HFM launches its annual European Performance and Hedge Fund Services Awards, our judging process will stand
testament to the substance of this change.

For managers, this evolution means that good performance can be undermined by a lack of the right service provider or a worrying level of opacity. Similarly, service providers are equally harshly judged by their end customers – the funds. The death spiral of some mini-primes and the M&A activity within the admin space shows that living up to high expectations isn’t easy, or cheap.

Some evolution can clearly be charted in baby steps but, come HFM’s May Awards night, we will see that this is an industry that has consistently taken giant strides. I hope to see many of you in attendance.

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