CASLA: are hedge funds thriving or frozen?
04 June 2015 Toronto
Image: Shutterstock
Canadian hedge funds could have a tough time ahead of them, according to a panellist at the Canadian 麻豆传媒 Lending Association (CASLA) conference in Toronto.
Jeff Olin of Vision Capital Corporation said on CASLA鈥檚 hedge fund panel that while Canada has one of the most effective banking systems in the world, it also creates inefficiency.
He suggested that the Canadian financial services industry is not conducive to investment in hedge funds.
Peter Hayes of KPMG disagreed, arguing that the last year has been 鈥減ositive鈥� for hedge funds. He suggested that an increase in regulation leads to more distribution, and praised the strength of Canadian banks.
Tony Venditti of BMO Capital Markets also defended banks, pointing out that it鈥檚 easy to blame them for cautious investment, but they are being highly regulated, too.
鈥淚t鈥檚 not the banks鈥� call,鈥� he said, adding: 鈥淲e are being forced to do this.鈥�
Venditti talked about the importance of anticipating the challenges of the future, and building the systems to deal with them now, referencing the industry鈥檚 unpreparedness for the previous financial crisis.
He said: 鈥淵ou would have had to be building from 2004 to be ready for 2008. There are opportunities to be had now.鈥�
He also argued that Canadian banks should be looking to become global institutions, a point which Olin conceded.
Olin considered global marketing a key to Canada鈥檚 success, saying: 鈥淭he world needs more Canada 鈥� but we need to go and tell the story.鈥�
Jeff Olin of Vision Capital Corporation said on CASLA鈥檚 hedge fund panel that while Canada has one of the most effective banking systems in the world, it also creates inefficiency.
He suggested that the Canadian financial services industry is not conducive to investment in hedge funds.
Peter Hayes of KPMG disagreed, arguing that the last year has been 鈥減ositive鈥� for hedge funds. He suggested that an increase in regulation leads to more distribution, and praised the strength of Canadian banks.
Tony Venditti of BMO Capital Markets also defended banks, pointing out that it鈥檚 easy to blame them for cautious investment, but they are being highly regulated, too.
鈥淚t鈥檚 not the banks鈥� call,鈥� he said, adding: 鈥淲e are being forced to do this.鈥�
Venditti talked about the importance of anticipating the challenges of the future, and building the systems to deal with them now, referencing the industry鈥檚 unpreparedness for the previous financial crisis.
He said: 鈥淵ou would have had to be building from 2004 to be ready for 2008. There are opportunities to be had now.鈥�
He also argued that Canadian banks should be looking to become global institutions, a point which Olin conceded.
Olin considered global marketing a key to Canada鈥檚 success, saying: 鈥淭he world needs more Canada 鈥� but we need to go and tell the story.鈥�
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