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Alternative Market Briefing

Investors eye capacity constrained funds

Thursday, May 10, 2018

Bailey McCann, Opalesque New York:

It's no secret that investors are putting more money into low-cost passive investments than ever before. But, there may be an unexpected benefit for fund managers - a renewed interested in niche funds.

"We have been drawn to more capacity constrained strategies lately," said Stephen Prince, Head of Asset Management, at Tetragon Financial Group from the stage at Context Las Vegas. He added that for investors that are willing to look at smaller funds the alpha generation opportunities can be significant.

Strategies noted from the stage included micro-buyout, discretionary global macro, short-only and thematic programs.

As Opalesque previously reported, seeding platforms have already become more open to niche funds but often big investors are the last to sign on. Michelle McCloskey, President of Americas at Man Group suggested that investors are getting savvier about the role of different strategies in an overall portfolio which is leading them to take a second look at funds they may have previously passed over. "It's not so much about total return anymore," she said. "Investors are thinking about outcomes and risk management. The role of active management is changing in the eyes of investors."

If what McCloskey says is true, then arguably investors are thinking about active management correct......................

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