Hedge funds said mulling 'shadow' fund services

The rising tide of regulatory and compliance requirements for hedge fund managers are prompting some to look at using ‘shadow’ fund administrators as a check on their primary administrator. Interest in the practice has grown since $120 billion US hedge fund Bridgewater Associates hired Northern Trust last year to ‘shadow’ fund administration work being been carried out by BNY Mellon.   This is something that has been going on in Asia for some time, says Michael Langton, head of …