Hedge funds are the globe’s most innovative investment managers. Using a broad array of strategies the industry currently looks after well-over $2trn (Source: HFMWeek) for an increasingly diverse array of clients. Once the preserve of high-net-worth-individuals, shifting investment trends means that the industry is now as relevant to the streets of Pittsburgh, as it is to the waterways of Monaco.  In 2008/09 institutional money became the largest proportion of hedge fund assets, while the average pension fund portfolio is expected to comprise 12% of alternatives by 2012 (Source: HFMWeek). With the industry buoyant, and dynamic, it is rapidly-moving into fresh strategies and demonstrating new highs in transparency and operational standards. This shift is ably supported by a host of key service providers, including prime brokers, fund administrators, law firms and assorted consultants. All are a vital part of HFMWeek’s readership community.

Remote gambling is one of the fastest growing, dynamic and highly regulated business sectors. Characterised by a handful of key vertical markets, namely sports betting, poker, casino, bingo, skill-based and other gaming, and state lotteries, it touches the lives of hardened gamblers and weekend punters alike. Together they generate in excess of $25bn (Source: H2GC - http://www.h2gc.com/) for the worldwide gambling industry. While traditional high street bookmakers and land-based casinos remain prime movers, web-based and mobile gambling has spawned a new generation of operators. Much of the market is based outside the US, which through the Unlawful Internet Gaming Enforcement Act (UIGEA), outlawed online gambling in the country in 2006. Tax regimes in other major territories has ensured the offshoring to jurisdictions with more attractive tax rates. In addition to operators, service providers such as legal and accountancy firms, technology, marketing, and payment processing companies play a major role in the growth and influence of the sector.

Captive Insurance and Alternative Risk Transfer (ART) is a sub sector of the global corporate insurance industry, enabling major corporate operations to retain and manage their own insurance risk through self-owned insurance vehicles. The Captive and ART sector has seen rapid growth over the last 25 years, with around 80% of Fortune 100 and 60% of Fortune 500 companies currently owning a captive insurance company. The captive sector is responsible for over US$170bn of premium and more than US$500bn of invested assets.

The sector has matured over the last ten years with Bermuda, Vermont, the Cayman Islands, Guernsey and Luxembourg now hosting over 60% of the global business. The remaining business is shared across 45 countries and US states that have enacted legislation to host and regulate captive insurance companies.

Retaining and managing the insurance risk of the parent company has become a vital risk management tool for over 5500 companies globally. In recent years the medium sized enterprises have started to join the multinationals in starting captives. This has opened the door to the next level of expansion globally along with emerging markets including the Middle East and Latin America.

The emerging markets were once seen as niche investments, used to diversify generalist portfolios or to attract investors with high risk appetites, however, over the last decade emerging market fund sector has grown to be one of the most important and profitable sectors of the investment space. Fund managers in the US and Europe are increasing their emerging markets specialisations to target specific countries or regions, with it now uncommon for managers in either long-only or alternative asset classes to run fleets of funds covering the likes of Africa, MENA or the BRIC markets. But moreover, the emerging markets that have attracted most investment – such as India, South Africa, the Middle East and Brazil have begun to spawn bona fide fund management industries of their own on home soil, as international firms locate themselves on the ground to strengthen their investment capabilities and local investment houses grow their own product ranges. Pageant Media’s emerging markets fund management group seeks to be the primary media provider covering the development of these local markets and the investment into them from the West.

Insurance – for many decades a Western risk management solution – is rapidly becoming more prevalent in emerging markets among both corporations and individuals. With insurance penetration still extremely low comparatively to the West (less than 1% of GDP in some countries) in spite of the significant economic development and demographic growth being experienced in many of these economies, the emerging markets represent a huge opportunity for insurance companies and service providers looking to establish a foothold early in what promises to become a massive globalisation of the industry – particularly as several insurance sectors are reaching saturation in Europe and the US.
International insurers have already begun to set up operations in emerging insurance hubs such as Dubai and Qatar in the Middle East, or pockets of Africa, Latin America and Central and Southeast Asia that show great promise. As international expertise enters these markets, and the sophistication of both corporate insurance buyers and individuals increases in line with economic development, local insurance markets are beginning to flourish. Many of these markets are yet to benefit from dedicated media coverage, and Pageant Media’s emerging markets insurance group has its sights set on establishing itself as the preeminent provider of business information for these emerging hubs.