Asset Managers
Hedge Funds and Private Equity—Building Bridges—Or Not
Jul 27th, 2020 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Asset Managers, Institutional Investing, Venture capital, Asset allocation, Equity Types of Private Equity, Asset Allocation Models, The A.I. Industry, Institutional Asset Management, Hedge Funds, Private InvestmentsAlternative investment managers were evolving in the context of changing market conditions even before the Covid-19 pandemic, although the virus has speeded up the process. What is emerging is an alternatives landscape where pure-play hedge funds will be rare. That is one of the conclusions of a new study byRead More
Ebenezer Scrooge: An Alternative View
Dec 23rd, 2019 | Filed under: Alpha-centric Companies, Social investing, Industry Size & Managers, Newly Added, Asset Managers, Institutional Investing, Socially responsible investing, What about beta?, The A.I. Industry, Institutional Asset Management, Hedge Funds, SRI and Clean Energy, Other Topics in A.I.By Bill Kelly, CEO, CAIA Association Ebenezer Scrooge was not exactly a cuddly CEO. The way he treated poor Bob Cratchit alone would not have exactly put Scrooge & Marley Ltd. in the top quartile of the Sustainalytics’ ESG Risk Ratings, as he routinely gutted any notion of social responsibility.Read More
Hedge Funds and the Value of Diversity and Inclusion
Dec 3rd, 2019 | Filed under: Hedge Fund Industry Trends, Newly Added, Asset Managers, The A.I. Industry, Hedge FundsThe Alternative Investment Management Association, in conjunction with Ernst & Young, has prepared a paper on inclusion and diversity in the hedge fund industry. The paper begins fittingly with a quotation from Eileen Murray, co-CEO of Bridgewater Associates, who says: “We are fortunate today that people understand that companies doRead More
Hedge Fund Flows Fall Flat in October
Nov 24th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Industry Size & Managers, Equity Hedge Funds, Newly Added, Asset Managers, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge FundsThe Eurekahedge Hedge Fund Index was up 0.31% in October. However, it doesn’t measure up to the market next to the MSCI ACWI (Local), which ended October up 1.93%. Eurekahedge’s latest monthly report observes that US-China trade talks resumed, and this led to a certain tentative optimism. Since those areRead More
It’s Not Cheating for Market Makers to Pay for Order Flow
Oct 24th, 2019 | Filed under: Algorithmic and high-frequency trading, Hedge Fund Strategies, Newly Added, Asset Managers, Business News, The A.I. Industry, Hedge FundsLarry Tabb, in a piece in the Financial Times, has defended the controversial practice of payment for order flow (PFOF). Let’s start with PFOF and why it’s controversial. The UK’s Financial Conduct Authority defined PFOF in a recent white paper as the practice in which an investment firm, typically aRead More
Zebras Are Reactionaries
Sep 9th, 2019 | Filed under: Newly Added, Asset Managers, Alpha Strategies, What about beta?, Smart Beta, The A.I. Industry, Hedge Funds, Risk Management & Operations, Allocating to A.I.Someone told me that it’s all happening At the Zoo. In this case, it was Paul Simon in his 1967 title song where he anthropomorphizes the animals he sees in the Central Park Zoo. Some are deemed to be honest, some kindly but dumb, and some insincere or skeptical, and,Read More
The Audacity of Opacity
Jul 15th, 2019 | Filed under: Consultants, Private Equity, Industry Size & Managers, Newly Added, Asset Managers, Institutional Investing, Media Coverage of Hedge Funds, What about beta?, High-net-worth investors, Alternative Investments in Context, Endowments & Foundations, Institutional Asset Management, Family Offices, Hedge Funds, Private Investments, Allocating to A.I.By Bill Kelly, CEO, CAIA Association Why are we still talking about this? No, it’s not the central bankers and their insatiable easing tendencies, trade wars with China, or even the Women’s World Cup football match (sorry Netherlands!). These stories all make great headlines, drive news ratings, generate tickertape parades,Read More
Net Performance Reporting: Not Just Arithmetic
Jul 2nd, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Operations and Risk Management, Industry Size & Managers, Newly Added, Asset Managers, Operations, Partner accounting, The A.I. Industry, Fees, Hedge Funds, Structure of the Hedge Funds IndustryWhy can’t a fund manager simply subtract all fees and expenses from gross returns and present the arithmetical result to existing or potential investors? In a newly released paper, Donald Steinbrugge, the founder and CEO of Agecroft Partners, discusses how hedge funds calculate and present their net performance, and theRead More
Eurekahedge: The Grinch Stole December’s Returns
Jan 22nd, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Industry Size & Managers, Equity Hedge Funds, Newly Added, Asset Managers, Indexes, The A.I. Industry, Hedge FundsThe Eurekahedge Hedge Fund Index was down for the month of December 1.31%, and that this brought the total decline of 2018 down to 3.85%, according to the January 2019 report. Part of the reason for the bad December numbers was a broad concern about the yield-curve inversion in USRead More
McKinsey on Asia’s Asset Managers
Dec 16th, 2018 | Filed under: Industry Size & Managers, Newly Added, Asset Managers, Regulatory, Regulatory Environment, The Global Economy & Currencies, Emerging markets, Economics, The A.I. Industry, Allocating to A.I.Assets under management for Asia’s managers have ballooned in the last 10 years, with an increase on average of 9% annually. Performance has been such as to encourage inflow. A recent study by McKinsey suggests that the “good times” will “keep rolling.” But it also cautions that the opportunities inRead More
Making Sense of Private Credit Funds
Aug 26th, 2018 | Filed under: Private Equity, Industry Size & Managers, Debt Types of Private Equity, Newly Added, Asset Managers, The A.I. Industry, Private InvestmentsA new study takes what is called a “first look” at the aggregate performance of private credit funds. Using data going back to 2004, the authors (two of whom are affiliated with Adams Street Partners) determine that private credit funds “have performed about as well, or better than, leveraged-loan, high-yield,Read More
Closing the Gender Gap in Alternative Investments
May 29th, 2018 | Filed under: Industry Size & Managers, Newly Added, Asset Managers, The A.I. Industry, Other Topics in A.I.The Emerging Market Private Equity Association (EMPEA) has announced its first initiative aimed at closing the gender gap, which it calls its Gender Parity Acceleration Working Group. EMPEA has 300 member firms, including both general partners and limited parties, who are invested in more than 130 countries around the globeRead More
Skin in the Game: Testing a Cliché
Jul 16th, 2017 | Filed under: Industry Size & Managers, Newly Added, Asset Managers, Alternative Investments in Context, Hedge FundsOne of the most well-worn clichés in the hedge fund industry is the phrase “skin in the game.” Investors want managers who have “skin in the game,” that is, managers who risk/hedge their own money the same way they are risking/investing their outside investors’ money. A recent paper by ArpitRead More
Industry Headwinds: And How to Move Forward Regardless
Dec 29th, 2016 | Filed under: Investor Relations, Industry Size & Managers, Newly Added, Asset Managers, The A.I. Industry, Sales & Marketing in the AI Industry, Other Topics in A.I.In a new white paper, CaseyQuirk has identified four catalysts said to be driving secular change in the active asset management world: New buyer demands emphasizing different value propositions for asset managers. Related to this – institutions are losing relative importance to high-net-worth individuals, and these individuals “value different attributesRead More
Fiduciary Duty, Excessive Fees, and Findings of Fact
Aug 30th, 2016 | Filed under: Industry Size & Managers, Newly Added, Asset Managers, Regulatory Environment, Legislation/Court rulings, The A.I. IndustryThe Honorable Peter J. Sheridan, for the U.S. District Court for the District of New Jersey, ruled in favor of defendants, AXA Equitable and related entities, in a consolidated derivative action on behalf of mutual fund investors. This was a lengthy decision issued on August 25 that will reward attentionRead More
SLAM Wars: The Flow Awakens Ranking Asset-Manager Flows & Profits
Jun 6th, 2016 | Filed under: Industry Size & Managers, Newly Added, Asset Managers, Institutional Investing, High-net-worth investors, Endowments & Foundations, Institutional Asset Management, Family OfficesBy Charles A. Skorina As recruiters we work both sides of the investment-management street: serving for-profit money managers and not-for-profits like foundations and endowments.Fee-based publicly listed asset managers, especially the big ones, are newsworthy because they invest a lot of money for a lot of customers, including non-profits investors. There’sRead More
Convergence: Hedge Fund Managers Will Need More Staff
Mar 1st, 2016 | Filed under: Hedge Fund Industry Trends, Industry Size & Managers, Newly Added, Asset Managers, The A.I. Industry, Hedge Funds, Structure of the Hedge Funds IndustryConvergence, a research and advisory firm serving the alternative asset management world, has posted a review of the year 2015, looking at where the industry stands by comparing 2015 and 2014 numbers in a number of respects.Read More
The Skorina Report: Who are the Best Institutional Investors? It’s Not That Simple
Feb 22nd, 2016 | Filed under: Newly Added, Asset Managers, Institutional Investing, The A.I. Industry, Institutional Asset ManagementBy Charles Skorina There is simply no place like New York for the depth and breadth of exceptional investment professionals. Yet with all this talent, the challenge of building superior investment teams that can endure and outperform over a decade or more is daunting and seldom achieved. Consistent, multi-decade superiorityRead More
AIMA: 44% of Hedge Fund Firms Planning New Launches in 2016
Dec 20th, 2015 | Filed under: Industry Size & Managers, Newly Added, Asset Managers, Liquid Alts, The A.I. Industry, Liquid Alternative Investiments, Other Topics in A.I.A global survey by PwC and the Alternative Investment Management Association looks at the expansion of the hedge fund industry and the evolution of its distribution model. The most eye-catching statistic from the survey us that 44% of fund managers responding said that they will launch a new fund byRead More
DB Global Prime: Hedge Funds See Steady Combined Inflows, But Lots of Action
Nov 29th, 2015 | Filed under: Performance, Analytics & Metrics, Hedge Fund Strategies, Industry Size & Managers, Equity Hedge Funds, Newly Added, Asset Managers, Benchmarking & Performance Attribution, The A.I. Industry, Hedge FundsDB Prime's researchers have highlighted the multi-year outflows from EM to DM. EM equity inflows in particular reached a peak in early 2011. Since then EM equities have seen an outflow which has benefitted primarily Europe and Japan within the developed world. Read More
McKinsey Report Declares North American Asset Management in ‘Robust’ Health
Nov 24th, 2015 | Filed under: Newly Added, Asset Managers, The A.I. IndustryThe emergence of new pools of capital has been very good to the asset management world in North America. So, that's good news, right? But? Yes, there's always a 'but.'Read More
The Skorina Report: Wall Street Pay & CEO Performance: Who got their money’s worth?
Jun 4th, 2015 | Filed under: Alpha-centric Companies, Asset Managers, Institutional Investing, Alpha Hunters, High-net-worth investorsCharles Skorina presents his annual CEO compensation report and a little bit more.Read More
Morgan Stanley Investment Management
Jul 19th, 2008 | Filed under: Asset ManagersMorgan Stanley Investment Management From corporate website: Morgan Stanley Investment Management’s alternative investment offerings span a wide range of disciplines, including hedge funds and funds of funds; absolute return strategies; real estate; senior loans; structured products; and private equity, which encompasses direct investments, joint ventures, leveraged buyouts and infrastructure Click hereRead More
Diversified Global Asset Management
Jul 20th, 2000 | Filed under: Asset ManagersDiversified Global Asset Management From corporate website: Diversified Global Asset Management Corporation (DGAM) is an active manager of funds of hedge funds. Our performance-driven services are appropriate for sophisticated investors who understand the risks of hedge fund investing. We construct well-diversified portfolios and seek to minimize risks during normal andRead More
Bridgewater Associates
Jul 19th, 2000 | Filed under: Asset ManagersBridgewater Associates From corporate website: It is in Bridgewater’s DNA to innovate, unshackled by conventions. As a result, over the last 30 years, Bridgewater has pioneered several investment strategies, including currency overlay management in the 1980s, the separation of alpha and beta in the early 1990s and inflation-linked bond managementRead More
Barclays Global Investors
Jul 19th, 2000 | Filed under: Asset ManagersBarclays Global Investors From corporate website: Barclays Global Investors transformed the investment industry by creating the first index strategy in 1971 and the first quantitative active strategy in 1978. After more than three decades-and with one of the best long-term track records of any active manager-we remain a leader inRead More
Analytic Investors
Jul 19th, 2000 | Filed under: Asset ManagersAnalytic Investors From corporate website: Analytic Investors is widely recognized for a commitment to innovative investment research, disciplined quantitative methods and an ability to implement sophisticated trading and portfolio management strategies. Our institutional heritage and time-tested strategies complement a variety of investment objectives in today’s increasingly complex global arena. ClickRead More
Other Asset Managers
Jul 19th, 2000 | Filed under: Asset ManagersOther Asset Managers First Quadrant Goldman Sachs (Active Alpha Investing) Integra Capital (Alpha Beta Strategies) Morgan Stanley (Alternative Investment Partners – Portable Alpha) Northwater Capital PanAgora Research Affiliates RMF (Portable Alpha) State Street Global Advisors (Absolute Return) Strategic Group Fitzpatricks Financial Advisers If you would like to add your companyRead More