#stresstest

Redemptions & Contagion

The reason why the Money Market Fund Regulation requires funds to know their investors (Know Your Customer extends to Know Your Investor)...

Be Aware of Concentration

Being aware of the nature of your investor and how concentrated the holding is among investors, is one of the implicit or explicit asks...

Liquidity and Redemption Stress

Liquidity in normal circumstances and in stressed ones are at the core of the Money Market Fund Regulation. How much of the portfolio can...

Constants are not the Truth; and Hedge Funds.

Constant NAVs were fine. Except for what lay beneath. Regulators cannot be happy with a lack of transparency anywhere in the financial...

Investor Concentration As A Stress

Imagine having a top-end investor in one of the Funds you run. Winning that account was a dream for the salesperson that aced it. Imagine...

Regulation. Simply!