On Monday, March 21st at its California headquarters, Apple unveiled a new iPhone and iPad, as well as announced improvements to current products. Fittingly, CEO Tim Cook also discussed security at length – not shying away from concerns resulting from the current fight with the FBI. "We believe strongly that we have a responsibility to help you protect your data and protect your privacy. We owe it to our customers, and we owe it to our country,” he said. The key takeaways from the event are summarized below.
The 4-inch iPhone SE
The new iPhone was introduced as having all the power of the iPhone 6s, but with the aesthetic of the iPhone 5. The reason, said Apple VP Greg Joswiak, is simple: “For some people, they simply love smaller phones.” With a $399 price point, analysts believe that the new phone is Apple’s attempt to penetrate the fastest-growing markets of India and China, specifically “prepaid consumers who cannot afford, or are not familiar with, bigger screen smartphones,” said Neil Mawston, an analyst at Strategy Analytics.
The iPhone SE promises an A9 processor with faster LTE and Wi-Fi speeds, better battery life, 4k and 240 fps slow-mo video recording, live photo support, and Apple Pay. The 16GB model, as well as a 64 GB model for $499 go up for pre-order on March 24, 2016, with the first units shipping March 31, 2016.
9.7 inch iPad Pro
The “baby brother” to the 12.9 inch screen iPad Pro that some consumers deemed too large, the new 9.7 inch model is roughly the same size as the iPad Air 2 but with features like Apple Pencil, Apple’s Smart Keyboard, a 12 MP rear camera with 4K video recording and live photo support, and a 5 MP front-facing camera. In addition, the screen of the new iPad pro will be 40% less reflective than that of the iPad Air 2, but will be 25% brighter.
A feature called “True Tone” will benefit designers by constantly checking the lighting of the room and adjusting accordingly for color accuracy. Three models will be available for pre-order March 24, 2016: the 32GB for $599, 12GB for $749, and 256GB for $899.
The following is the second excerpt from our new whitepaper, Launching a Hedge Fund: 10 Keys to Success. Don't forget to visit Hedge IT on Thursday as we reveal the last of our key considerations for starting a hedge fund.
To read part one, click here.
Develop an IT budget for your first 2-3 years.
Operating capital may be limited in the first few years after your launch, so careful budgeting and long range planning will serve your firm well. Your information technology budget should include priorities and figures for at least two to three years, including infrastructure/hardware and software requirements. Some questions you’ll want to consider:
How many offices are you launching with? Do you plan to open additional offices in the near future?
How many users do you have on day one? How many can you expect to have in years 2 and 3?
Where are your offices located? Are there cost differences between domestic and international offices?
What are your trading practices and how does this impact your budget?
What kinds of systems do you need? (Order Management, Portfolio Accounting, Risk Management, CRM, etc.)
Ensure your technology budget coincides with your firm’s growth plan. Do you expect to grow quickly? Open new offices? Expand internationally? You will need to account for these changes.
Understand hedge fund regulations and how they affect your firm.
Governmental oversight of the financial industry has evolved dramatically in the last decade. Hedge funds, private equity firms and registered investment advisers now operate in a world where they are beholden to regulatory bodies with growing expectations and requirements. When launching your hedge fund, you’ll need to be clear up front with any responsibilities you may have to any applicable agencies – in the United States, that means the Securities and Exchange Commission (SEC). Are you required to register? If so, represent your firm accurately and be descriptive of your operations. If not forthcoming, you may open up your firm to serious regulatory and criminal prosecution.
Categorized under: Launching A Hedge Fund Cloud Computing Security Disaster Recovery Hedge Fund Due Diligence Hedge Fund Operations Hedge Fund Regulation Infrastructure Communications Outsourcing Business Continuity Planning Software Trends We're Seeing
In today’s competitive market, research management software (RMS) has become a must-have integrated feature for investment management firms. Significant benefits offered via RMS have caused a ripple effect of soaring adoption rates across the global investment industry. In this article we’ll examine how adopting a research management solution could benefit your firm.
With offices, colleagues and clients spread across the world, firms need to consolidate data in an organized fashion. From meeting and call notes, to audits and analyst reports, the demand for readily accessible information is ever burgeoning. Storing information within multiple programs and folders not only welcomes disorder and the opportunity for digression in the workplace, but also increases costs and wastes valuable time. This prehistoric method of aggregating data has been replaced with advanced RMS, a much more viable, flexible and comprehensive solution. Hosting a firm’s data within a user-friendly, central repository simplifies processes, optimizes productivity and uncovers new business opportunities. When selecting a RMS, managers may consider a generic or industry-specific product. While both options present benefits, the latter assimilates seamlessly with an investment firm’s daily workflows, terminology and diverse range of data. An ideal RMS will also offer customization, accessibility and integrate with other applications, such as Outlook.
Mobile devices have transformed the way we manage our everyday lives: from how we track our bank accounts, to interacting with friends and family to booking travel, and so on. Everything you need is at your fingertips, but are you taking the proper security measurements to protect your device? Below are a few tips to help keep your smartphone’s data safe.
Set a Password: When you do not set a password to lock your phone, anyone who obtains possession of the device has instant access to all of your apps that automatically log-in upon launching. This is a simple security measure to take and yet, according to Consumer Reports' annual State of the Net Survey, only 36 percent of smartphone owners have a passcode. From a business use perspective, any device that accesses corporate email or networks should have a complex password and be managed by mobile device management tools such as AirWatch or Good Technology.
Mobile Security Apps: Looking to the future, we expect the adoption of mobile device security apps that provide antivirus, privacy and anti-malware protection to increase. And for good reason. According to the June 2014 McAfee Labs Threat Report, mobile malware has increased by 167 percent in the past year alone. Companies, such as AirWatch, aim to ensure your enterprise mobility deployment is secure and corporate information is protected with end-to-end security.
Traveling with electronic devices puts personal and critical business information at risk. As we embark on the busy holiday travel season, we decided to share some useful tips to help prevent your data and devices from falling into the wrong hands. Here are our top 10:
Back up Your Data Before You Leave: Prior to traveling, back up data that is stored on your device(s) onto media that will not be taken with you on your travels. For example, on a storage card, cloud, or computer, if you are not bringing the latter device on your trip. Furthermore, ensure you do not have social security numbers, passwords, credit card information and other sensitive data stored on your devices. If you do, save this information in a more secure place and remove it from your portable devices.
Travel Light: If you do not need it, do not bring it on your trip. Only devices that are necessary should accompany you while traveling.
The following article originally appeared on HFMTechnology.
Although we are faced with change on a daily basis, especially in the hedge fund technology industry, keeping pace with ongoing tech metamorphoses does not come easy for everyone. Fear, the biggest contributor of hesitancy toward change, masks the opportunities innovation presents. Fear is what leads to IT limbo, and in an ever-evolving technology landscape, this effect can be crippling. However, with the support of expert IT service providers, the pains and fears of migrations and upgrades are alleviated.
In this article, we’ll examine the recent end-of-life (EOL), of operating system (OS) Windows Server 2003, its resultant challenges and how to overcome them.
Doing Nothing and Risking Everything
Windows Server 2003 extended support ended on July 14, 2015; however, not all users have made the transition to Windows Server 2012 R2. Why are firm’s remaining on an out-of-support OS?
The primary influencers are fear and a lack of sense of urgency to replace a still functioning OS. In the case of users still utilizing the legacy application, the risks they face largely outweigh the benefits. By doing absolutely nothing, firms are risking everything. As patches and bug fixes are no longer being provided, hackers have an unguarded entrance to access a firm’s sensitive information, passwords and banking accounts. This not only increases the firm’s odds of being hacked, but also raises the gravity of ensuing damages should an incident occur.
Additionally, if a firm’s network does crash that’s still deployed on Windows Sever 2003, the odds of finding expert support become increasingly limited with each passing year. This is predominantly due to the industry’s forward marching nature. An outdated system will only continue to fall behind in the race of technology, trouble shooting will take longer, future applications will fail to run, or crash the server altogether, and the cost to migrate increases concurrently as the pool of experts shrinks.
The bottom line is change is inevitable, and eventually 2003 will reach a point where the surrounding ecosystem won’t work with 2003 servers. Ultimately, MS will make it so the OS becomes inoperative as the company continues to evolve. So what can we do?
Transparency is the buzzword and, rightly so, investors expect it -- make that, demand it. As a result, nearly every hedge fund product is touting its ability to provide greater, faster, better transparency. I’ll try to avoid that in this post and instead focus on a budding buzz-phrase – investor relationship management or hedge fund CRM as we like to call it.
Yes, I know everyone’s heard of Salesforce.com, but we’re talking about a CRM application that is built specifically for hedge funds. As a tool that supports investor relations, a hedge fund CRM gives funds the ability to centralize all of their investor data, including contacts, documents and correspondence while also allowing investors to access fund information at any time, including transaction history, account balance statements and other investment data.
Categorized under: Software
Did you know that the average cost of a data breach is $3.8 million? Or, that the consolidated average cost incurred for each record of lost or stolen sensitive and confidential information has increased six percent (6%) since 2013 from $145 to $154? A recent study of 350 companies spanning 11 countries reported the aforementioned statistics, representing a twenty-three percent (23%) increase in data breach consolidated costs.
Written by Ledgex Systems, the following article originally appeared in the Canadian Hedgewatch under the title, "2015 Trends: Investor-centric Approaches for Hedge Fund Growth."
Winning Hedge Fund Strategies
In today's competitive market, winning investor assets is no easy feat. Hedge funds must be nimble and meet increasing investor and regulatory demands, while remaining cost efficient and advancing operations. To foster and sustain these relationships, it’s vital that managers and investors reach equilibrium in regards to their interests and expectations.
Achieving this balance is an ongoing challenge; however, it also offers firms opportunities for improvement. The following are suggested focus areas for hedge funds to differentiate themselves from the competition and attract and retain investors.
Bespoke Fund Productization
Managers that strive to enhance offerings consistently to attract principal growth must focus on investors’ needs during product ideation and development. Aside from exceptional client service, investors expect high performance, availability, transparency and seamless integration with client relationship management data. Hedge funds that invest in building bespoke solutions suitable for investor operations will meet expectancies better while increasing efficiencies and reducing the risk of underperformance.
This article first appeared on FINalternatives and was contributed by Brian Macallister, managing director at Ledgex Systems.
Today’s hedge fund investors are more competitive – and more demanding –than ever. As a result, many hedge funds are walking a fine line. They need to track communications, client relationships and capital movements in order to raise and retain assets, while providing exceptional client service and exceeding reporting requirements – all without increasing headcount or operational overhead. That balancing act is essential to avoiding these three primary reasons investors walk away from their hedge funds:
1. They aren’t happy with performance.
No amount of communication or reporting will save an underperforming hedge fund from losing investors. However, those efforts will help fund managers get ahead of investor concerns and proactively address likely questions during periodic performance dips. Information is power, especially in the hands of the firm. When information about how the investor’s balance today relates to past performance is readily available and integrated with customer relationship management data, financial firms can better manage expectations and investor reactions.