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Alternative Market Briefing

Traditional hedge fund strategies are faced with challenges, London Roundtable

Tuesday, July 31, 2012

amb
Basil Williams
From Komfie Manalo, Opalesque Asia:

Traditional hedge fund strategies are faced with challenges as the old structure of the markets are confronted with difficulties brought by the financial crisis in most of the Western economies. This was the agreement reached by hedge fund managers who participated in the latest Opalesque London Roundtable.

The Roundtable was sponsored by Eurex, Bingham and Taussig Capital and was held last month.

Basil Williams, alternative asset manager CEO of Concordia Advisors said that we are currently living in a world of what he termed as bimodal tail risk that depends upon the outcome of the European crisis. He explained that a lot of strategies have become much more difficult to assess considering this tail risk, particularly, directional hedge fund strategies. Significant tail risk may be the consequence of a stroke of a pen, as opposed to an economic outcome, and that causes us to be quite cautious, he said.

Williams commented, "We are seeing good opportunity in traditional fixed income arbitrage; a lot of prop capital has left the street. Why are we focusing on the credit relative value opportunity manifested in the U.S. municipal bond market, which is i......................

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