Funds to outsource back and middle office

LONDON -- Outsourcing of hedge funds’ back- and middle-office functions is set to accelerate as institutional investors demand that managers concentrate on trading and making money, according to William Jones, head of legal and compliance at Bank of Bermuda Global Fund Services’ London office.

Jones told the Fourth Annual Pan European Hedge Funds Summit in London in late October that there was a "pronounced" need for independence (by managers) as institutional buyers enter the market.

"They