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Article: Administrative gold mine: Custodians champing at bit for piece of hedge fund pie.(News)(Industry Overview)
- Article from:
- Pensions & Investments
- Article date:
- September 29, 2003
- Author:
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Phyllis Feinberg
The boom in hedge funds has led to a parallel burst of activity among financial services companies vying to get a piece of the business supporting the $700 billion market.
Executives at many of the firms that provide custody as well as administrative services to money managers and pension funds see gold in the projected 30% annual growth rate in hedge funds.
BISYS Hedge Fund Services Ltd., Hamilton, Bermuda, which was formed in March 2002 when The BISYS Group, New York, acquired Bermuda-based hedge fund administrator Hemisphere, is one of the largest firms in this business, with $63.2 billion in hedge fund assets under ...