Welcome to the March 2012 issue of New
Managers, Opalesque's monthly monitor
of emerging hedge fund managers.
In Statistics, Peter Urbani demonstrates
that the Opalesque Emanagers Index (February
results on page 3) is highly suitable
as a benchmark, because it can be easily
replicated with a low tracking error. He
goes on to highlight some of the main contributors to the recreated
Index's risk and return characteristics through a risk decomposition.
The view that it might be best to leave the emerging manager selection,
checking and monitoring to a specialist, such as a fund of funds
or a multi-manager programme for example, came to us from different
corners this month.
Lisa Fridman of PAAMCO and William Benjamin of HSBC, both part of
a FoF management team, talk to Opalesque about their preferences
and procedures, while we look at the latest Citi Finance report on
early investors in detail in Focus. Hedge fund research expert Katherine
Hill tells Opalesque what investors really look for in emerging
managers in Q&A. Several analysts recommend bucking the trend of
investing in well-known names and instead investing in multi-manager
programmes of emerging managers, as there are good chances that
the latter might provide outperformance in their early years in The
In Profiles, meet the managers of Acacia's long/short equity fund,
Coherence's future fixed income hedge fund, and Noblesse Oblige's
forex managed account.
I hope you enjoy our third issue of New Managers.
Please, do contact me if you have any related news.
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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.