Nearly half of those surveyed said they were now using benchmarks to gauge the returns on the cash balances in their portfolios – twice as many as reported this in the same survey in 2001. The result, says Bob von Halle, senior vice-president and director of business development at Horizon, is that an increasing number of funds are looking for an alternative to management of their cash by a prime broker. According to the survey, the number of managers holding cash with a prime broker has decreased from 65% to 59% since 2001.
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