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From Kirsten Bischoff, Opalesque New York: As the Darwinian effect of the financial crisis takes hold, managers who have successfully generated alpha are expected to eventually reap the benefits of a smaller pool of competition. However, expectations are for assets returning to hedge funds to be in such strategies as distressed debt, direct lending, and managed futures, anticipates CP Eaton Partners.
Investors will continue to migrate away from hedge fund strategies using high levels of leverage and significant market beta as principal drivers of returns, the firm said in a statement.
These expectations are similar to what Pershing Square’s William Ackman told the audience at Schulte Roth & Zabel’s 18th annual Private Investment Funds Seminar. Ackman, being interviewed by Paul Roth shared his expectations that investors would favor more clear and understandable strategies going forward.
“We have seen more interest in launching distressed debt, managed futures and commodity funds, and not surprisingly, litigation funds.” Joost Lobler, Managing Director, Business Development, Europe, Middle East and Asia for hedge fund administrator Butterfield Fulcrum Group told Opalesque.
“Some of our existing clients with managed futures strategies have done exceptionally well, with double digit returns over 2008. Most of them are confident that they will grow their assets under management considerably during 2009...................... To view our full article Click here
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