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Opalesque Exclusive: Trends in hedge fund of funds distribution
Nadja Pinnavaia is Managing Director at Goldman Sachs Hedge Fund Strategies LLC, which is Goldman's FoF arm with approximately $14bln allocated to over 100 managers.
According to Pinnavaia, "we continue to see institutions increasing their alternatives exposure including hedge funds. Over the last years, structured hedge fund products have been used to address certain regulatory framework constraints and, if carefully designed, can cater to institutional customization needs."
Daniel Penseyres is head of Alternative Investment Strategies at Lombard Odier Darier Hentsch which runs $3bln SFR in fund of funds. The bank has established a “hedge fund school” that offers seminars and also encounters with hedge fund managers or hedge fund portfolio managers on site and recently invited Yale’s endowment manager David Swensen as guest speaker. Since 2005, Switzerland’s pension funds are required obtain proper training on alternative investments.
Andreas Benz Regional Manager Man Investments ($44.45bln in alternatives), says that investors are now looking beyond FoFs to more specialised products. For private clients, a hedge fund investment is perceived as risky investments and therefore a high return is expected. Surprisingly, Man found that the retail investor's appetite for risk is much higher than the firm anticipated.
Benz also addressed the di...................... To view our full article Click here
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