09/06/2010
Family offices are at last following institutional investors into the realm of Ucits and managed accounts. This week, Parly Company and the Dhandsa Family Office joined the growing fray, by respectively announcing plans to transition assets from hedge funds into managed account structures and Ucits offerings.
However, like all fads, it seems that two of the latest investment trends are not a solution for all. At this week's Opal Financial Group European Family Office & Private Wealth Management Forum in Switzerland, panelists debated the merits of these structures.
Tushar Patel, senior advisor, Dhandsa Family Office, was one speaker who suggested that managed accounts and Ucits are not a panacea. “Pure traditional allocators may still be happy with the old model,” he said.
Patel reasoned that for families to reap the full benefits of managed account structures, managers need a strong operational platform and an adequate skill set. While Ucits, despite the current gold-rush mentality surrounding them, were not immune from side-pockets or having investments suspended.
And with May’s figures looking shaky, “lock-up is a dirty word right now,” said Carol Pepper, president at Pepper International, a multi-family office in New York. Making the serious point that family offices – still scarred after 2008 – are unlikely to commit to any fund with the potential for gates, regardless of structural stripe
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Summer in the Hamptons is as much of a tradition for most New York managers as charging 2/20 and complaining about cap intro. However, all things must pass, and, whether it be down to the vagaries of fashion or a fresh outlook, post-financial crisis, the Hamptons is no longer the only game in town for managers seeking a New York retreat.
One of better-known benefactors of those seeking a break from the norm, has been Adirondacks-based The Point Resort. Dragging in managers for client entertainment or board meetings, The Point has garnered a reputation as a place to do business the old fashioned, face-to-face way – with its log cabin ethos and lack of city distractions.
One of the few places left in America where mobile phones don’t work, The Point’s guests are free to talk about the business matter in hand, without distraction from buzzing BlackBerries. Managers can entertain clients overlooking the lake or by the fireplace, or in the main dining room, or, if they are feeling more sporty, engage in various activities including water skiing, swimming and tennis, just to name a few.
For more information on the options available,…
ML Capital, the Malta-based financial management firm, has launched its new Ucits-compliant hedge fund platform, after having lobbied Ireland’s Financial Regulator for a change to sub-fund branding rules, HFMWeek can exclusively reveal.
Today: Smaller hedge funds suffer inflow drought as investors flock to larger firms; flagship Paulson fund suffers losses in August; top 50 European managers benefit from rise in demand for regulated funds; and finally, top Gartmore investment trust looks to sever ties with the company follows fund manager departure...
Passive marketing would be legalised as part of the EU’s Alternative Investment Fund Managers (AIFM) Directive under a new proposal by the Belgian presidency, although private placement rules would be scrapped as part of the same plan
As HFMWeek prepares to launch its new fresh look, this week’s Page 4 rolls out our industry confidence survey. Polling readers on their faith in the global economy, investor inflows and the impact of regulation we hope, on a weekly basis, to build a broad picture of the psychology of the hedge fund sector.
Read MoreHave your say on the hedge fund industry by taking part in two new HFMWeek surveys
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22/09/2010
The next HFMWeek Subscribers' Club breakfast will take place on Wednesday 22 September. Join us and…
30/09/2010
The next US HFMWeek Subscribers' Club breakfast will take place on Thursday 30 September. Join…
26/08/10
The exclusive free event consists of two days of in-depth panel discussion and plenty...
Volatile markets, demanding investors and the frustrating inability to shake the label of financial industry ‘bad guy’; it’s fair to say that hedge fund managers don’t have the most relaxing of jobs. Even those rare moments of downtime are flecked with work-related blackberry messages, compliance calls and the need to brainstorm with peers. 
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