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From Kirsten Bischoff, Opalesque New York:
With small funds returning an additional 3% on performance in May over larger hedge funds, investors are considering that there may be a place for small managers within their portfolio. “There are a lot of really good diamonds in the rough out there,” Steve Simmons, Managing Director of Lighthouse Prime Services, a division of New York-based Lighthouse Financial Group, told Opalesque.
Lighthouse Prime Services, which focuses its services on small and emerging managers, hosts frequent capital introduction events for their clients. As the hedge fund industry comes out of a ten-month period of net outflows, these events have reflected this subtle shift, revealing investors may be ready to return to the space. At least two of the emerging managers who have participated in their events have received allocations from investors and their June roundtable showed further signs of hope that investors are beginning to think about reallocating to the hedge fund space.
“Investors are coming off the sidelines…Overall the feeling is that they are saying ‘you know what? We’re beginning to look around again.’ It’s very tentative but they are definitely creeping back into the water,” says Simmons.
In fact, May inflows into hedge funds outpaced outflows for the first time in ten months. But there is still wariness in the air. The latest Lighthouse Prime Services Roundtable ev...................... To view our full article Click here
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