Sunday Times – South Africa’s hedge fund industry is about to double in size over the next two to three years, says Rand Merchant Bank.<\/p>\n
RMB is putting their faith behind this belief and has announced they are to be the latest entrant into the support-service industry for hedge funds, known generally as prime broking. They say their prime broking operation will provide fixed income hedge funds with front-end IT systems and support, credit enhancement, risk management, securities lending, custody and settlement services.<\/p>\n
“The support-service industry for hedge funds is expanding to meet the needs of the growing hedge fund industry, which is on track to double in size over the next two to three years,” says Lauren Pearce, head of RMB’s Fixed- Income Prime Broking operation.<\/p>\n
RMB announced it was also looking to establish a prime broking operation for equities later this year.<\/p>\n