O’Neill Donnellon says: “Bernie Madoff could never have taken a managed account and did what he did. With our system, there is not one day that goes by that a trade is not settled. The assets are the client’s.” He says that most SMAs in the hedge fund space have been built by investment banks to launch their structured products. These are not necessarily in the best interest of clients.
05/08/2009
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Administration & fees
HESTA’s purchase of a minority stake in its administrator, Grow Inc., shows that member services have become existentially important to the industry after a slew of regulatory and court actions.
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