Financial Market Trends

OECD’s twice-yearly journal providing timely analyses and statistics on financial matters of topical interest and longer-term developments in specific financial sectors. Each issue provides a brief update of trends and prospects in the international and major domestic financial markets along with articles covering such topics as structural and regulatory developments in OECD financial systems, trends in foreign direct investment, trends in privatization, and financial sector statistics covering areas such as bank profitability, insurance, and institutional investors.

Periodically, a small number of articles within one field of financial sector developments – constituting the so-called special focus for the particular issue – may be included.


Selected Questions Regarding Hedge Funds

There has been rapid growth in the share of assets under control of hedge funds over the past decade and, as a result, these entities have now become firmly entrenched in the universe of investment vehicles and, in turn, have themselves become important investors. Against this background, the OECD Committee on Financial Markets (CMF) discussed specific issues related to these entities on several occasions as part of its market surveillance activity. The present article provides a summary of selected aspects of recent CMF discussions related to hedge funds, focusing in particular on the responses to a questionnaire on hedge funds that was circulated prior to the CMF meeting in May 2007 to inform the discussion at that meeting. These various discussions suggested that a consensus is emerging that the most efficient way to address any policy concerns related to the activity of hedge funds is to focus on hedge fund investors and counterparties rather than on these entities themselves. Only a minority of countries are considering policy actions in a variety of areas, but many respondents seem to underline the need for public authorities to continue monitoring developments regarding hedge funds.


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