Alternatives

• Alternative Reality

  The true value of hedge funds and private equity has very little to do with hedging.

• Custody Rules Boost Third-Party Hedge Fund Aministrators

  Demand for transparency promises to be a boon for third-party hedge fund administrators.

• Cayman, Liechtenstein Tax Haven Status Fades

  Cayman Islands and Liechtenstein are tightening tax shelter rules with treaties that breach the traditional wall of financial secrecy.

Asset Management

• Open Season for Target-Date Funds

  More 401(k) plans are adopting open architecture, creating an opportunity for smaller players. This change comes as target-date funds, which adjust their asset allocations according to when investors expect to retire, are zooming in popularity.

• Beijing's Big Bond

  China sale of 6 billion yuan ($878 million) worth of government bonds in Hong Kong, marks first time debt is issued outside the mainland.

Banking & Capital Markets

• Bank of America CEO Ken Lewis Has No Regrets

  Ken Lewis bows to pressure at Bank of America but de­fends big bet on Merrill Lynch.

• Five Questions For Stuart Gulliver

  HSBC's Stuart Gulliver discusses the bank's deep commitment to the resilient economies of Asia.

• What We Said About The U.S. Dollar

  There are no real winners in "trying to find a replacement for the dollar as the cornerstone of the international monetary system."

Green Investing

• Green Investing Gets Easier With Index Funds

  Institutional investors that have steered clear of green investments because of their volatility have a new option — index funds.

• Norges Bank Discovers Water

  Norwegian fund wants companies to adopt enlightened water-use practices for sound business reasons.

• Effective Green Investments In Emerging Markets

  Investors are paying more attention to cleantech opportunities in emerging markets.

Investment Strategies

• Suntory Adds Fizz to Orangina Takeover

  The whiskey maker’s privately negotiated takeover of Orangina may signal a trend in private equity: exiting deals without auctions.

• Océ’s Rokus van Iperen Survives Digital Era

  Dutch printer maker Océ responds to the challenges of recession and global competition.

• The New Venture In Media Art

  VC guru Dick Kramlich and his wife, Pamela, sing the praises of media art.

Exchanges & Trading

• Technology Drives Trading Costs

  Elkins-McSherry's 13th annual transaction cost survey shows fast-­paced technological change remains the driving force in equity trading.

• Hedge-Like Mutual Funds For Joe Six-Pack

  A growing number of money management firms are launching hedge fund–like mutual funds.

• Electronic FX Trading: Buy Side’s Underlying Challenges

  Future of FX trading technology must address buy-side firms’ requirements.

Global Markets

• Amado Boudou Leads Argentina’s Turnabout Tango

  An unlikely helmsman for the storm-tossed Argentinean economy, Amado Boudou dazzles in his winning dance with foreign creditors. His mission: carry out market-friendly initiatives without angering the government's first family.

• Norges Bank Discovers Water

  Norwegian fund wants companies to adopt enlightened water-use practices for sound business reasons.

Pensions & Endowments

• Lessons Learned: Colleges Lose Billions in Endowments

  U.S. colleges are forced to re-evaluate their endowment models.

• San Diego CIO Outsources Job to Himself

  San Diego County CIO Lee Partridge farms out endowment management to himself.

• Barrett Wissman: The Go-Between

  First to roll over publicly in NY Attorney General's pension fund kickback investigation.

Regulation

• Andrew Cuomo, Financial Reformer

  Arguably, the ambitious New York attorney general's office has done more to reshape the U.S. financial industry than any other government entity.

• Mary Schapiro Puts SEC Back in Business

  Chairman Mary Schapiro is working to rebuild the SEC into a forceful investor advocate.

• Federal Reserve Exit Strategy Urged

  St. Louis Fed president James Bullard wants clarity in Fed's plans to address financial crisis.

Research

• Best of Hedge Fund Services in the Worst of Times

  Hedge fund managers expect more from service providers than they did before the crisis. Here are the outfits they say excel at meeting their needs.

• Europe's Largest Funds Refocus After the Storm

  Financial turbulence leaves its mark on Europe’s fund managers as assets shrink and players consider strategic deals.