The SEC on Monday filed charges against a Minneapolis-based hedge fund manager, his investment advisory firm and an employee for portfolio pumping and bilking investors in two hedge funds out of more than $1 million, officials say. As management fees earned by Archer Advisors LLC were dwindling due to the funds’ poor performance, the SEC… Read More >>
Prime Brokers and Custodians Bury the Hatchet
Following a rocky courtship just after the financial crisis, prime brokers and custodian banks have now settled into a comfortable – if not quite loving – marriage of convenience as both sides aim to please hedge fund clients, sources say. “In the beginning, there was definitely a lot of competition between the custodian banks and… Read More >>
Prime Brokerages Share Their Pain with Hedge Funds
For hedge funds, change is in the air as prime brokers contemplate pulling back on financing options and raising fees, leaving some funds to consider parking excess cash and long securities at custodian banks. Prime brokerage units of A-List firms are beginning to feel the squeeze as big banks face stiff pressure from regulators to… Read More >>
