http://allaboutalpha.com/blog/2007/01/10/umas-base-camp-for-individual-investors-to-scale-mt-alpha/ A finance blog about hedge funds, portable alpha and alternative investing. Mon, 13 Feb 2012 11:26:54 +0000 http://wordpress.org/?v=abc hourly 1 http://allaboutalpha.com/blog/2007/01/10/umas-base-camp-for-individual-investors-to-scale-mt-alpha/comment-page-1/#comment-11248 allaboutalpha.com: Welcome to AllAboutAlpha.com Wed, 13 Jun 2007 01:45:39 +0000 http://allaboutalpha.com/blog/2007/01/10/umas-base-camp-for-individual-investors-to-scale-mt-alpha/#comment-11248 [...] Since that time, active overlay has also come to refer to the process of tax management in unified managed accounts (see posting).  But it never seemed to catch on as a term used to describe alpha-centric investing techniques such as 130/30 (which can be alternatively described as a beta portfolio with an active overlay).  In fact, a Google search of “active overlay” returns precious few citations referring to equity overlay management (a.k.a. beta overlays or long/short overlays). Â  [...] [...] Since that time, active overlay has also come to refer to the process of tax management in unified managed accounts (see posting).  But it never seemed to catch on as a term used to describe alpha-centric investing techniques such as 130/30 (which can be alternatively described as a beta portfolio with an active overlay).  In fact, a Google search of “active overlay” returns precious few citations referring to equity overlay management (a.k.a. beta overlays or long/short overlays). Â  [...]

]]> http://allaboutalpha.com/blog/2007/01/10/umas-base-camp-for-individual-investors-to-scale-mt-alpha/comment-page-1/#comment-1636 All About Alpha » Blog Archives » Managed Accounts: Not just for breakfast any more Thu, 15 Mar 2007 03:00:39 +0000 http://allaboutalpha.com/blog/2007/01/10/umas-base-camp-for-individual-investors-to-scale-mt-alpha/#comment-1636 [...] investing. Archived in Alpha Beta Separation, Portable Alpha, Hedge Funds | Trackback | del.icio.us | Top OfPage [...] [...] investing. Archived in Alpha Beta Separation, Portable Alpha, Hedge Funds | Trackback | del.icio.us | Top OfPage [...]

]]> http://allaboutalpha.com/blog/2007/01/10/umas-base-camp-for-individual-investors-to-scale-mt-alpha/comment-page-1/#comment-751 All About Alpha » Blog Archives » Event: Managed Accounts USA 2007 Mon, 19 Feb 2007 23:08:00 +0000 http://allaboutalpha.com/blog/2007/01/10/umas-base-camp-for-individual-investors-to-scale-mt-alpha/#comment-751 [...] Investing in hedge funds via managed accounts opens up possibilities similar to those touted by the UMA business such as cross-account management and reporting [...] [...] Investing in hedge funds via managed accounts opens up possibilities similar to those touted by the UMA business such as cross-account management and reporting [...]

]]> http://allaboutalpha.com/blog/2007/01/10/umas-base-camp-for-individual-investors-to-scale-mt-alpha/comment-page-1/#comment-415 All About Alpha » Blog Archives » Why Hedge Fund Regulation is All About Alpha Wed, 31 Jan 2007 04:08:02 +0000 http://allaboutalpha.com/blog/2007/01/10/umas-base-camp-for-individual-investors-to-scale-mt-alpha/#comment-415 [...] “Alpha-centric investing” refers to more than just “portable alpha”. As we have reported on this blog, it encapsulates new operational infrastructures (UMAs), new fee arrangements (performance fees with benchmark hurdles / fee-per-alpha), new metrics (ranking funds based on alpha instead of absolute returns), new organizational structures (small teams of alpha producers), and new advisory models (fee-based vs. commission-based). A recent investment newsletter highlights another domain that is impacted by this simple idea: regulation. [...] [...] “Alpha-centric investing” refers to more than just “portable alpha”. As we have reported on this blog, it encapsulates new operational infrastructures (UMAs), new fee arrangements (performance fees with benchmark hurdles / fee-per-alpha), new metrics (ranking funds based on alpha instead of absolute returns), new organizational structures (small teams of alpha producers), and new advisory models (fee-based vs. commission-based). A recent investment newsletter highlights another domain that is impacted by this simple idea: regulation. [...]

]]> http://allaboutalpha.com/blog/2007/01/10/umas-base-camp-for-individual-investors-to-scale-mt-alpha/comment-page-1/#comment-342 All About Alpha » Blog Archives » Unified managed accounts are in vogue, but watch the fees Mon, 22 Jan 2007 03:01:37 +0000 http://allaboutalpha.com/blog/2007/01/10/umas-base-camp-for-individual-investors-to-scale-mt-alpha/#comment-342 [...] A quick follow-up to our posting on UMAs being an enabling technology for retail adoption of portable alpha: this article illustrates we’re not alone in our belief.   Â  “Unified managed accounts expand on the basic function of conventional SMAs, which allow investors to own actual shares of stock, rather than shares of mutual funds that invest in those stocks, but also fold in other investment portfolios. Putting your mutual fund and ETF portfolios under a UMA structure won’t do much for your tax situation [ed: UMA proponents disagree] , but it boosts the level of coordination between these types of investments, letting you get the most out of the money management services for which you’re paying.” [...] [...] A quick follow-up to our posting on UMAs being an enabling technology for retail adoption of portable alpha: this article illustrates we’re not alone in our belief.   Â  “Unified managed accounts expand on the basic function of conventional SMAs, which allow investors to own actual shares of stock, rather than shares of mutual funds that invest in those stocks, but also fold in other investment portfolios. Putting your mutual fund and ETF portfolios under a UMA structure won’t do much for your tax situation [ed: UMA proponents disagree] , but it boosts the level of coordination between these types of investments, letting you get the most out of the money management services for which you’re paying.” [...]

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