Alexander Ineichen, Swiss Asset Managers Say Hedge Fund of Funds Not Done Yet
Alexander Ineichen, Managing Director and Senior Investment Officer, Alternative Investment Solutions, UBS Global Asset Management, voiced support for the hedge fund and the hedge fund of funds industry at a recent Opalesque Roundtable in Zurich. The Roundtable participants agreed with Ineichen's comment that the hedge fund of funds model remains "quite strong."
Zurich, Switzerland, March 25, 2009 --(PR.com)-- According to Ineichen, "you can hear right now a lot of people criticizing the fund of funds model. They argue that its hey days are over. However, I have a different view on that. I believe it is mainly fund of hedge funds are in the business of constructing conservative portfolios, not hedge funds.
Hedge funds are the building blocks of a conservative portfolio. With a fund of funds, you have risk management on two levels. The hedge fund manager controls risk on a securities and markets level, while the fund of hedge funds manager controls risk on a single manager level. Given the uncertainty we are discussing, with the markets where they are today - assuming that they normalize somewhat - I would advocate that the fund of funds model is
actually quite strong."
Ineichen authored UBS’s most re-printed research reports: “In Search of Alpha”, and “The Search for Alpha Continues” and published "Asymmetric Returns: The Future of Active Asset Management" and "Absolute Returns: The Risk and Opportunities of Hedge Fund Investing".
Opalesque is now publishing the script of the Opalesque Zurich Roundtable. The event took place on February 26th 2009 at Man Group/ RMF’s offices in Pfäffikon and was sponsored by Taussig Capital. Apart from Ineichen, the following experts participated:
l Frederic Berney. Chief Risk Officer, Harcourt Investment Consulting
l Christopher Brodie, Co-founder and senior fund manager, Krom River
l Jaime Castán, Head of Hedge Fund Research, RMF
l Uwe Eberle, Head of Institutional Relationship Management, Member of the Management Committee, Man Investments
- Prof. Dr. Peter Meier, Zurich University
- Jim Mitchell, Senior Managing Director and Co-founder, EWM Global
- Dr. Christian Raubach, Managing Partner of Wegelin & Co. Private Bankers
- Philippe Pillonel, Managing Partner, Constellation Capital Advisors
- Ernesto Prado, Co-founder and Chief Investment Officer, Areca Investment Management
- Joseph (Joe) Taussig, Founder, Taussig Capital
The Opalesque Zurich Roundtable can be downloaded here:
http://www.opalesque.com/Roundtable/RoundtableZH.html
This Opalesque Roundtable is with 31 pages the largest Roundtable script ever published by Opalesque. The discussion included various hot topics such as how Sharpe ratios can fool investors, why investors still shun managed futures, a discussion on the value of transparency and risk factors as well as suggestions how to restructure hedge fund fees.
In addition, the experts discuss:
- ...which strategies and opportunities Swiss hedge fund managers and investors are pursuing in this recessionary environment
- ...that going forward, RMF will be handling close to 80% of US and Europe L/S hedge fund investments via managed accounts
- ...that while managed accounts are the biggest demand from end-investors, this trend could actually exacerbate the problems which may be brewing for the next crisis
- ...how the Swiss hedge fund industry aims to rebuild investor confidence
- ...where the Swiss regulators failed during the 2008 crisis
- ...that there are already a couple of initiatives within the Swiss hedge fund investor community to get together, and which interests they are pursuing
- and share an exemplary story how one hedge fund manager changed the way a mainstream newspaper writes about hedge funds.
The Opalesque Zurich Roundtable can be downloaded here:
http://www.opalesque.com/Roundtable/RoundtableZH.html
All other previously published Opalesque Roundtable Scripts can be accessed here:
http://www.opalesque.com/index.php?act=archiveRT
About Opalesque:
Matthias Knab, Director of Opalesque Ltd, moderates the Opalesque Roundtables. Matthias Knab is an internationally recognized expert on hedge funds and alternatives.
In 2003, with the publication of its daily Alternative Market Briefing, Opalesque successfully launched an information revolution in the hedge fund media space: "Opalesque changed the world by bringing transparency where there was opacity and by delivering an accurate professional reporting service." - Nigel Blanchard, Culross. This hybrid financial news service, which combines proprietary industry news stories and filtered third party reports, has been credited by many industry insiders with delivering precise, accurate, and vital information to a notoriously guarded audience.
Each week, Opalesque publications are read by more than 600,000 industry professionals in over 130 countries. Opalesque is the only daily hedge fund publisher which is actually read by the elite managers themselves (http://www.opalesque.com/op_testimonials.html).
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Hedge funds are the building blocks of a conservative portfolio. With a fund of funds, you have risk management on two levels. The hedge fund manager controls risk on a securities and markets level, while the fund of hedge funds manager controls risk on a single manager level. Given the uncertainty we are discussing, with the markets where they are today - assuming that they normalize somewhat - I would advocate that the fund of funds model is
actually quite strong."
Ineichen authored UBS’s most re-printed research reports: “In Search of Alpha”, and “The Search for Alpha Continues” and published "Asymmetric Returns: The Future of Active Asset Management" and "Absolute Returns: The Risk and Opportunities of Hedge Fund Investing".
Opalesque is now publishing the script of the Opalesque Zurich Roundtable. The event took place on February 26th 2009 at Man Group/ RMF’s offices in Pfäffikon and was sponsored by Taussig Capital. Apart from Ineichen, the following experts participated:
l Frederic Berney. Chief Risk Officer, Harcourt Investment Consulting
l Christopher Brodie, Co-founder and senior fund manager, Krom River
l Jaime Castán, Head of Hedge Fund Research, RMF
l Uwe Eberle, Head of Institutional Relationship Management, Member of the Management Committee, Man Investments
- Prof. Dr. Peter Meier, Zurich University
- Jim Mitchell, Senior Managing Director and Co-founder, EWM Global
- Dr. Christian Raubach, Managing Partner of Wegelin & Co. Private Bankers
- Philippe Pillonel, Managing Partner, Constellation Capital Advisors
- Ernesto Prado, Co-founder and Chief Investment Officer, Areca Investment Management
- Joseph (Joe) Taussig, Founder, Taussig Capital
The Opalesque Zurich Roundtable can be downloaded here:
http://www.opalesque.com/Roundtable/RoundtableZH.html
This Opalesque Roundtable is with 31 pages the largest Roundtable script ever published by Opalesque. The discussion included various hot topics such as how Sharpe ratios can fool investors, why investors still shun managed futures, a discussion on the value of transparency and risk factors as well as suggestions how to restructure hedge fund fees.
In addition, the experts discuss:
- ...which strategies and opportunities Swiss hedge fund managers and investors are pursuing in this recessionary environment
- ...that going forward, RMF will be handling close to 80% of US and Europe L/S hedge fund investments via managed accounts
- ...that while managed accounts are the biggest demand from end-investors, this trend could actually exacerbate the problems which may be brewing for the next crisis
- ...how the Swiss hedge fund industry aims to rebuild investor confidence
- ...where the Swiss regulators failed during the 2008 crisis
- ...that there are already a couple of initiatives within the Swiss hedge fund investor community to get together, and which interests they are pursuing
- and share an exemplary story how one hedge fund manager changed the way a mainstream newspaper writes about hedge funds.
The Opalesque Zurich Roundtable can be downloaded here:
http://www.opalesque.com/Roundtable/RoundtableZH.html
All other previously published Opalesque Roundtable Scripts can be accessed here:
http://www.opalesque.com/index.php?act=archiveRT
About Opalesque:
Matthias Knab, Director of Opalesque Ltd, moderates the Opalesque Roundtables. Matthias Knab is an internationally recognized expert on hedge funds and alternatives.
In 2003, with the publication of its daily Alternative Market Briefing, Opalesque successfully launched an information revolution in the hedge fund media space: "Opalesque changed the world by bringing transparency where there was opacity and by delivering an accurate professional reporting service." - Nigel Blanchard, Culross. This hybrid financial news service, which combines proprietary industry news stories and filtered third party reports, has been credited by many industry insiders with delivering precise, accurate, and vital information to a notoriously guarded audience.
Each week, Opalesque publications are read by more than 600,000 industry professionals in over 130 countries. Opalesque is the only daily hedge fund publisher which is actually read by the elite managers themselves (http://www.opalesque.com/op_testimonials.html).
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Nisha Mittal
+91-80-41275853
www.opalesque.com
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