Blog Entries from 08/2012
The financial crisis in 2008 exposed a series of weaknesses in the financial system. Regulators across the globe undertook a review of supervisory frameworks for global financial markets and decided to introduce a set of stricter rules, including inter alia, Dodd-Frank, FATCA, UCITS V and of course, Alternative Investment Fund Managers Directive (AIFMD).
Back in April 2009, the European Commission proposed a Directive on the Alternative Investment Fund Managers (AIFMs), including hedge funds, private equity and venture capital funds, property funds, investment trusts, real estate’s investment trusts, FSA authorised non-UCITS funds, funds of alternative investment funds, qualified investor schemes, charity funds, commodity funds, and infrastructure funds with the objective of creating a thorough and effective regulatory and supervisory framework for AIFMs at the European level.
Last month, Microsoft released a preview of its new Office 2013 package to the public so that users could get a feel for the updated versions of Word, PowerPoint, Excel, Outlook and OneNote. As technology lovers and avid tech trendwatchers, we couldn’t help but explore what CEO Steve Ballmer has called the “biggest, most ambitious Office” to date, and share our thoughts with our loyal Hedge IT readers.
You are likely very familiar with earlier versions of the Microsoft Office package, so the basics of each program won’t be a major surprise. However, there are some changes and new features that are being incorporated into this new release.
Rounding out our coverage of the hedge fund real estate market, today’s article looks at hedge fund hotels. Be sure to check out our other articles “A Look at London Hedge Fund Real Estate” and “Is Midtown Still the NYC Hot Spot?”
Hedge Fund Hotel: No, you can’t spend the night…
…But you can spend a year (or more or less). A hedge fund hotel is a fully-managed business office suite that provides high-end space, usually in a premium location, complete with important necessities required to get up and running quickly and efficiently. Hedge fund hotels typically provide premier technology, business solutions, telecommunications, and administrative and business support in an environment that is suitable for hosting potential investors and other important visitors.
Public cloud tools and free file sharing services are wholly owned and managed by third-party providers. Because infrastructure costs are spread across all users who are employing the service, each individual client is able to operate at a low cost. Public cloud tools are typically larger in scale than private enterprise clouds, which provide users with seamless, on-demand scalability.
These factors may seem to support the belief that public clouds and free file sharing services would suffice for a business’s basic infrastructure and file sharing needs. However, upon closer examination, it is clear that there are a number of areas in which these tools fall drastically short of meeting the crucial business needs of investment management firms.
Are you worried about the security of your data in the cloud? You're not alone. Many firms have concerns about cloud security, which is why we sent a team of mythbusters into the field (or maybe just the office) to test out some commonly held misconceptions around cloud computing security.
So put up your feet and enjoy the world premiere of our newest video: Eze Castle Mythbusters Presents: Cloud Security Myths Tested!
Last week, we took a closer look at the current state of the New York City hedge fund real estate market. Today, we're crossing the pond to provide some updates on new developments in the UK real estate arena.
London remains Europe's number one destination for hedge funds and private equity managers, with Mayfair and St. James's being the most-preferred neighborhoods. But have mounting economic pressures and increased interest from overseas for property pushed funds away from these areas? How are these factors affecting the popular "hedge fund alley" section of Curzon Street and Berkeley Square in Mayfair?
In the land of U.S. commercial real estate for financial services companies, Midtown Manhattan has always been the spot. But as the market has evolved, so too have the needs of hedge funds and investment firms – even when it comes to their office space.
Midtown Manhattan has long held the title of most expensive neighborhood for office rents, and this trend continues into 2012. According to a Q2 2012 report published by Newmark Grubb Knight Frank, the average asking price for office rentals in Midtown is $63.54 per square foot, which is significantly higher than the overall Manhattan average of $51.93.
Here at Hedge IT, we often discuss the variety of services and solutions that a third party technology provider can offer hedge funds and investment firms. However, one important area that is often overlooked is the process a firm must undertake in partnership with the provider in order to ensure a smooth transition to their new IT environment. In an industry that cannot afford downtime, seamless transition management is of the highest importance.
To aide in this transition, look for a provider that has deep experience working with clients to manage all implementations and other projects.
Today there is no excuse for a hedge fund not to have a disaster recovery plan in place. Both investors and regulators have raised their expectations and want to be sure that appropriate safeguards are in place.
Private cloud solutions are ideally suited to meet a hedge fund’s requirements for backup storage and disaster recovery (DR) solutions. Additionally, the growing acceptance of cloud-based services has driven down the costs substantially, making these solutions highly economical for funds of all sizes.
While business continuity planning (BCP) focuses on the people and processes needed to keep a hedge fund or investment firm in business – such as selecting a backup work site for staffers in an emergency – DR solutions emphasize the technology necessary to support a firm’s operations. In both areas, firms need to understand their operational processes and specific risk landscapes.