As banks spin off their proprietary trading groups into hedge funds to comply with a new law, traders will find themselves in a tougher environment.
Independent hedge funds face higher funding costs and often have less capacity to nimbly take advantage of opportunities in tough markets, traders said.
Without the infrastructure of their parent banks, senior hedge fund managers may have to spend more time on such matters as marketing and managing accounting staff than their counterparts on proprietary trading desks.
Add it all up, and investors are likely to be skeptical of the funds' ability to generate outsize returns, bank executives and hedge fund experts said.
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Modelling Single-name and Multi-name Credit Derivatives
Dominic O'Kane
Written by one of the top names in the field of credit, this book combines the theory and practice (with a very heavy focus on practice) of pricing and implementing credit derivatives for credit risk modeling.
ISBN: 9780470519288 – 514 pages – Cloth - 01-Sep-08 - £70.00
