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By Beverly Chandler, Opalesque London
In an interview with Opalesque, Lisa Fridman, Director, Pacific Alternative Asset Management Company, Europe, the $ 10bn fund of funds, reports that allocations to some funds of funds are increasing, some have suffered severe outflows of assets since 2008. “I would make a distinction between funds of funds that had an institutional client base against some of the others who perhaps had shorter term return focused investors” she says.
“In Europe, it did not help that some funds of funds were exposed to the Madoff situation. Confidence in the alternative space in Europe was more shaken than it was in the US.”
For some institutional investors in Europe, 2009 was a ‘wait and see’ type of year. However, 2010 has seen renewed life in the sector that many predicted was on hold, particularly for funds of funds. “2010 has demonstrated increased interest from institutional investors in Europe with several large RFPs from significant institutions in Europe who are increasing or starting their allocations to alternatives” says Fridman. Fridman has seen RFPs not just in funds of funds searches but also larger hedge funds.
The trend for growth started earlier in the US and was particularly visible where institutional investors were able to take advantage of the dislocations apparent in the recent difficult years. “We have seen a trend of some institutional investors, pension funds in particular, as they get more comfortable in the alte...................... To view our full article Click here
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