Geneva's fund of hedge funds power houses advance through innovation, new products
Sign up here for our free Roundtable Scripts - get this unique intelligence by email as Opalesque publishes them:
Did hedge funds have a good year in terms of performance in 2013 in the end?
It really depends on the strategy and the context, according to the participants at the latest Opalesque Geneva Roundtable. An absolute return strategy with LIBOR + 400bps and 2.5 Sharpe Ratio objectives may have had a fantastic year achieving 600 points and an equity manager who returned 20% might have had a terrible year.
Most hedge funders agree that overall, the performance of hedge funds has been pretty good, especially that of long/short, distressed and credit funds – and especially compared to the assessed equity risk of the portfolio. However, there may still be a problem with certain defensive or tactical trading strategies. Some also observe a wide diversity in manager performance in 2013, of which several look very interesting.
The top echelon of Geneva's fund of hedge funds power houses have used the post crisis years to work on an impressive product innovation and client-centric offerings.
In this Roundtable, the participants furthermore discuss new products and services based on thorough innovation, hedge funds fees, especially the new rules around fees that apply to institutions (including the TER), and the way U.S. pension funds (that tend to go direct now) treat fees compared to their European counterparts.
They ask how much of the TER would one want to use in order to achieve performance, and explain why, when it comes to fees, investing in hedge funds could be compared to investing in a pair of shoes.
The timely topic of bond investing was also on the table, their substitutes (such as some UCITS); as well as that of the supposed asset outflows from Switzerland.
The group also discussed:
The Roundtable’s esteemed guests were:
The Opalesque Roundtable Series offers unparalleled intelligence on the most important global hedge fund jurisdictions and their players. The Roundtable Series is a free publication from Opalesque and is continually updated. Please scroll down to view the full selection of our Roundtables - covering the globe!
Other Opalesque Roundtables in Geneva
Opalesque Roundtable Series - A Catalogue of Intelligence on Global Hedge Fund Centers: