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Alternative Market Briefing

SEI reports that there is a future for the fund of hedge funds industry

Tuesday, December 04, 2012

Beverly Chandler, Opalesque London: The fund of hedge fund (FoHF) industry is not as dead as it might seem, says SEI in their 2012 funds of hedge funds (FoHF) survey. The survey was conducted in June 2012 by the SEI Knowledge Partnership, with online questionnaires completed by senior managers at 220 institutions including institutional investors, investment consultants and FoHF managers. Investors participating in the survey reported a median of 9.0% of their assets were held in FoHFs. Consultants reported a median of 3.1% of assets in FoHFs.

Despite the many problems that the industry faces, such as disgruntled investors, stagnant assets under management and a dwindling market share, SEI feels that the bigger picture is far more nuanced, complex and indeed, optimistic. "The FoHF industry is by no means monolithic. Rather, it is a mosaic of fund structures that vary widely in their investment strategies, methods, client services, and business approach, as well as in their level of growth. Based on our recent survey of institutional FoHF investors and fund managers, along with our review of the latest thinking in the industry, at SEI we believe that the fund of hedge funds model may have more resilience and adaptability than some observers seem to think" the firm writes.

The survey finds that even amongst large institutional investors, fe......................

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