Pyramis (Fidelity) Splices Alpha & Beta
| Feb 2nd, 2007 | Filed under: Portable Alpha & Alpha/Beta Separation | By: Alpha Male |
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“Fidelity Targets Pensions Cash”
By: Deborah Brewster, Financial Times
Published: January 28, 2007
Note to pension readers: get ready for a call from your friendly neighborhood Fidelity sales guy. According to the Financial Times, Fidelity’s institutional arm, Pyramis, is about to teach a clinic on alpha-centric investing:
“Pyramis’s main push will be into the more sophisticated – and more lucrative and rapidly growing – field of long/short and quantitative investment products.”
In fact, they are even planning to implement performance fees on some of their products (which makes a lot of sense – as long as the performance fees are based on alpha generated). Not surprisingly, one of its first forays into alpha-centric products will be a 130/30 fund:
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