Sarah-Jane Dennis, a consultant at Investit, is raising concerns about investment managers seeking out short-term fixes to collateral problems, such as using swap-based futures. The problem, Dennis said, is that many have not considered the possible negative outcomes. "They need to have a backup plan, because when you hit problems with your margin calls jumping suddenly and you face the risk of running out of cash, you won't have time to sit down and discuss what to do," Dennis says. "You don't want go running to your custodian asking for money without a plan in place."

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