Wells Fargo responds to rise of credit funds
The US bank has brought in a dedicated resource to provide operational support to what it puts at three-dozen hedge funds – and counting – that are running credit strategies in Asia.
Hedge fund managers are increasingly relying on administrators rather than prime brokers for financing through repurchase agreements (repos) amid recent growth in credit strategies in Asia, observes Wells Fargo.
Christopher Kundro, senior vice-president and co-head of the US bank’s global funds services division, notes that over the past six months he has seen more long/short hedging strategies in Asia expanding out of equities into credit.
In response his team recently hired a …
Please sign in or register
for free access to 1 article per month from AsianInvestor’s content and archives of over 16,000 articles.
¬ Haymarket Media Limited. All rights reserved.