Some highlights from Monday’s FTfm
Greek rescue plan worries hedge funds
Hedge fund managers are seeking legal advice about the worth of their holdings of Greek credit default swap contracts amid concerns these might not pay out to cover losses as the proposed programme for a voluntary exchange of Greek debt would not trigger a credit event
Time to rethink tail-risk protection
Greater awareness of the need for portfolio protection suggests investors have accepted that extreme events occur more frequently than predicted by modern portfolio theory. But changes to investment strategies are needed to reflect the reality of the risks of extreme events
A kick for platforms will help pensions
Pauline Skypala takes a look at two important UK reports published last week aimed to tackle the shortcomings of the investment industry.
FSA’s new market abuse detector
The UK’s financial regulator is to unveil a “more intelligent” surveillance and monitoring system to detect market abuses
Face to face interview with David Steyn
David Steyn seems remarkably relaxed for someone who has surely inherited one of toughest jobs in asset management as chief executive of AllianceBernstein’s European arm
Swiss banks lead foray into Asian wealth market
Switzerland’s wealth management industry is leading the charge to the east, now that assets of wealthy individuals from the Asia-Pacific region are surging ahead of those held in Europe
M&G still top UK fund manager
M&G Investments consolidated its position as the top-selling UK fund manager in the second quarter, according to the latest Pridham Report
For-profit school steers through a rough patch
John Dizard charts the fortunes and share price of an online university facing questions from the government and the liberal education campaigners