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Alternative Market Briefing

Better to have best managers in unattractive strategies than mediocre managers in best strategies

Wednesday, October 16, 2013

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Umberto Boccato
Benedicte Gravrand, Opalesque Geneva:

Umberto Boccato, CIO of Alternative Investments at Mirabaud, an international financial group that offers private banking and asset management services, talks to Opalesque from his Geneva offices about the company’s funds of hedge funds.

Mirabaud was one of the first Swiss banking establishments in the 1970s to invest in hedge funds. Its Asset Management unit is one of those funds of hedge funds firms that don’t just run funds of hedge funds but also offer advisory and recommendations and due diligence services as well as specific mandates and managed accounts. It manages $5 billion of which $2.5 billion are through funds of hedge funds or managed accounts. Five funds of hedge funds invest in 120 underlying funds, and are managed by a team of 20.

Umberto Boccato: The common underlying theme of our product is, we see them more as a vehicle to give access to our clients to what we think some of the best talented managers. And what we favour in terms of managers is obviously experience. The other feature that we look for is alignment of interest, so we welcome a lot of managers who put their personal wealth in the fund; they are much more focused on compounding their wealth rather than just seeking to gather assets.

Opalesque: Yes, and you also select managers ......................

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