Support services: Fund administration - Institutions put heat on hedge fund administrators.

From: Financial Times Mandate | Date: November 1, 2006 | Copyright information

Byline: Ceri Jones

Hedge fund assets under management have soared 21 per cent this year, to $1300bn (1015bn), according to Hedge Fund Research. Big Wall Street banks are jockeying for a piece of this expanding sector, which is increasingly seen not as another asset class but as another asset management style to run alongside their traditional fund management businesses. Last month, for instance, Morgan Stanley announced three hedge fund deals in just three days - the purchase of FrontPoint Partners, and alliances with Avenue Capital and Lansdowne Partners.

At the same ...

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