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Asia Pacific Securities Finance Master Class
23 May 2012
The Global Investor/ISF and Securities Finance Asia Pacific Master Class, held in Sydney in May, brought together securities finance participants from beneficial owners to hedge funds. Luke Clancy reports
Australian market a tale of two halves
At the Global Investor/ISF Australia Masterclass Natalie Floate, head of marketing, BNP Paribas Securities Services, started the day, telling delegates that Australia has one of the lowest failed trade coverage in the world.
In Australia 80% of lenders in the market are superannuation funds, she said and the Australian market was “in some ways ahead of the rest of the world” especially where taxation and regulation are concerned. But, she added, Australia still lagged other markets across the world in terms of its acceptance of securities lending. She pointed to the UK as an example where many pension funds engage in securities lending “as standard best practice”.
Hedge funds have image problem in Australia
Given the disparate performance of hedge funds over the past decade, Alex Dunnin, director of research and editorial, Rainmaker said on the hedge fund panel that the term “hedge...
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