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New Managers March 2014

PERSPECTIVES: News, views and findings relevant to the emerging manager space

Fundraising advice: avoid 'spray and pray' technique

EisnerAmper, a US-based accounting firm has released a new report on capital raising for alternative investment funds, authored by Keith S. Miller...

For managers struggling with fundraising, Miller says having a clear-cut marketing plan based in investor research is critical. "Too many emerging managers make the mistake of adopting a "spray and pray" technique to fundraising. This is the exact opposite of a real marketing strategy because no actual plan exists," he writes. "A more sophisticated approach involves a manager profiling the specific clients or client groups he wants to target to make capital contributions into the fund. This is applicable whether a manager is targeting institutional, high net worth or any other type of investors."

When managers do go into a pitch meeting, Miller says getting out of sales mode is important. "When initially approaching each potential investor, a manager needs to get out of sales mode and first find out what the prospect actually needs. Only then can he align the client's needs with how he can help. A manager who doesn't obey this rule will only be selling his fund to himself during a pitch meeting. A common mistake made by many new managers is to go after anybody with money as a target for the fund without knowing or finding out what exactly that investor is looking for in his portfolio or from his advisor." ...

Full article from Bailey McCann here

More spinouts, special sits funds are expected

Opalesque 2014 Cayman Roundtable

Ashley Gunning, a part......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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