The SEC’s ADV data: hedge fund edition (Premium Content)


The SEC recently released their Form ADV data on investment managers including a large number of hedge funds. The data err on the side of conservatism in non-disclosure and can be compared to what the SEC has released so far on Form PF. More than anything, the ADV data raise the question of what is a hedge fund in 2015.

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The European repo market is singing the QE blues.

Some recent articles have highlighted illiquidity in the European repo markets, a result of the ECB’s QE program.

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Good to see central bankers looking closely at their own role in the collateral markets

We’ve had central banks on the brain lately, so a new paper from the Bank for International Settlements, “Central bank operating frameworks and collateral markets”, was right up our alley. The paper investigates the impact that central banks have in markets for assets that are frequently used as collateral.

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