1-in-10 hedge fund managers are not covering their costs with management fees, according to a survey by KPMG for PCE Investors. The average fund spends 45 per cent of management fees are spent on costs – even excluding front office salaries and bonuses.

With the credit crunch having wiped out almost an entire community of investment bank broker-dealers, is a new prime brokerage model emerging from the wreckage? By Henry Smith.

Property investors should not shelter in their domestic markets, writes Alice Breheny.

Systemic solutions are required to address both the current credit crisis and the long-term financial future, writes John M. Balder.

The Alternative Investment Management Association (AIMA) reacted critically to the temporary short-selling bans introduced by finance regulators from September 17. By Martin Steward.

A Fitch Ratings report has found that the management of money market funds may have to be significantly altered to ensure liquidity after underlying investments failed. By Nat Mankelow.

Those emerging economies that are able to control inflation may actually benefit from the credit crisis, writes Jerome Booth.

Asia’s strong fundamentals should see continued growth writes James Wier.

As recession drags on the public sector purse it could provide new opportunities for private infrastructure investors, according to two leading fund managers. By Martin Steward.

The auction to determine the final payout on $400bn (€291bn) of defaulted credit default trades referencing failed investment bank Lehman Brothers could see a net $6bn transferred from sellers to buyers of credit protection. By Nat Mankelow.

The crisis in banking has called into question the swaps-based LDI structures bought by pension funds and whether it is time for a return to cash and government bonds. By Martin Steward.

We have heard the calls for new strategies and alternative investments time and time again, writes Henry Smith.

Low-volatility strategies have the potential for improving the risk/return characteristics of an equity portfolio writes Brendan Bradley.

Gilles Glicenstein’s cautious approach as opposed to investment in the more exotic assets that were favoured by some rival groups has left him, at least temporarily, with the bragging rights, writes Yuri Bender.

The financial crisis poses problems for Ucits products, writes Jon Brassey.

Many were surprised when Jay Ireland moved from NBC Universal Television Stations to become president and CEO of GE Asset Management but he is determined to focus on risk management and achieving growth for clients in highly volatile markets. By Nat Mankelow.

Don’t flinch from your long-term private equity strategy when the going gets tough, says HarbourVest’s top man in Europe: the nature of the business makes it risky to time the market. By Martin Steward.

The insurance buyout solution to pension liabilities seems to have taken off this year. But there is an argument that recent pricing is unsustainable and that the industry could head for consolidation if the financial crisis blocks access to capital to meet expected demand. By Martin Steward.

Its success in the Netherlands means fiduciary management is ripe for export, but UK pension funds still have their reservations. By Spencer Anderson.

New fiduciary-style mandates could simplify fee structures and make access to alpha cheaper for investors faced with governance constraints. By Martin Steward.

Thomas Kubr at Capital Dynamics says that investors who focus on building an appropriately diversified portfolio of private equity funds tailored to their risk appetite should not only ride out the financial crisis, but enjoy good returns relative to public markets. By Martin Steward.

Investing in commodities can bring diversification benefits over the long-term or be a means of making short-term returns. But it is a volatile asset class and understanding the state of the market is a vital pre-requisite. By Matthew Craig.

Most institutional investment in commodities has been via passive indicies, but Steve J Mastrovich and Jens Schmitt argue for a more active approach.

The market in active currency management remains relatively small although the number of mandates that include a currency play is rising. But is this trend set to continue in such a risk-averse climate? By Alison Ebbage.

Volatility trading is no longer the preserve of hedge funds as traditional investors look to exploit the huge spikes in the market. By Gerry O’Kane.

The wide spreads in the high yield bond market may have created a great opportunity for investors with a long-term outlook, but volatility in the asset class looks set to continue for some time yet. By Ceri Jones.

As investors look to increase allocations to commodities, the launch of a pan-African ETF should simplify access to a continent with real growth potential. By Nat Mankelow.

Bernardus Roelofs, head of sales trading, and Johannah Ladd, senior legal advisor at Flow Traders, explain how the role of ETF market maker has never been more important than during today’s climate of strong growth but extreme volatility.

There is no doubt that technology is a volatile sector. But our top managers point out that corporate indebtedness is low and that it is possible to build surprisingly robust defensive portfolios. By Martin Steward.

Whether you are for greater regulation in the funds industry or against it, the events of recent weeks determine that it is here to stay and will have more clout than ever across the globe. By Nat Mankelow.

The spotlight is firmly on OTC derivatives following the recent collapse of counterparties. Will centralised clearing finally produce the transparency and operational efficiency the buyside craves? By Nat Mankelow.

Volatile market conditions have made the ability to handle illiquid assets paramount in hedge fund administration, and specialist niche players are in a position to pick up business that the big administrators are unable to provide for. By Henry Smith.