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Alternative Market Briefing

Retail investors see new options for hedging tail risk

Thursday, October 18, 2012

Bailey McCann, Opalesque New York:

As Opalesque has reported in detail, tail-risk hedging has gained renewed interest from investors following the 2008 crisis. For those who invest in hedge funds, a variety of new products are being launched focusing on providing insurance for left tail, or 'black swan’ events. However, retail investors, which have many of the same risks, have found themselves without as many products to choose from. Earlier this year, Universa Investments, a California based hedge fund, which focuses specifically on tail risk, launched two ETF products through Horizons Exchange Traded Funds Inc. and its affiliate AlphaPro Management Inc which are now available to investors on the Toronto Stock Exchange.

Universa is an investment management firm that specializes in convex tail hedging and investing. Mark Spitznagel, its Chief Investment Officer, founded Universa in 2007 with over a decade of implementation and development of its focused, positive asymmetric investment approach. Universa's Senior Scientific Advisor, Dr. Nassim Nicholas Taleb, is considered the premier specialist of rare events (black swans) and has had a working relationship with Universa since its inception. Universa has approximately $6bn in assets under man......................

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