Editor's view: 29 July 2010
Like Paris in the spring, the lure of the Ucits space is proving a heady experience for many managers. First Europe fell for the charms of these onshore products, now the Americans are joining in a communal swoon.
24/02/2010
Saam looks to add more managers to FoHF portfolio
Stripes Alternative Asset Management (Saam), a New York-based long/short fund of hedge funds (FoHF) manager with a preference for sector-specialist funds, has announced plans to add more underlying
managers to its portfolio.
The FoHF is looking to add another financials fund, as well as a technology, media and telecommunications (TMT) manager to its existing allocations, HFMWeek has learned.
Will Patty, portfolio manager on Saam’s flagship Sentinel Fund, said of the manager selection process, “I build enough conviction that they are the best [hedge fund managers] in their sector and they are different from the current managers in our portfolio.”
The fund limits its industry-specific allocations to less than 25% in any one sector.
The Sentinel Fund has made a number of sector specific allocations recently, including one healthcare strategy and two utilities offerings. In total, the fund has 15 underlying managers.
Prior to launching the Sentinel Fund, Patty worked at SAC Capital Advisors. Previously, he worked at Permal Group.
In January, the fund returned 0.10%. Last year, it was down 5.8%
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Comment: Amy B Hirsch
"It is imperative that investors of all types ensure they understand the relationship between the introducing party and the manager"
Investors sit tight on impaired assets
Playing the ‘what if’ game can be fun but, depending on the number of variables in question, it can get a little out of control. Apply this conceit to the hedge fund sector's performance during the financial crisis and the possible permutations become legion.
Hedge fund inflows in Q2
Hedge inflows have slowed as volatile markets made sitting on the sidelines the safest option in Q2. According to figures from HFR, the quarter’s $9.5bn - a 30% drop from Q1’s $14bn – reflected the 'wait and see' policy of many investors as the HFRI Fund Weighted Composite dropped -2.5%. With nerves setting in, recent predictions of a boom of interest in the alpha potential of smaller managers also fell flat, with the lion’s share of money going to large $5bn-plus managers.
Read MoreFunds of hedge funds fall out of favour
A growing number of institutional investors are now opting to invest directly into hedge funds instead of allocating to the space via funds of hedge funds.
Read More
22/09/2010
UK: Ucits IV
This month’s HFMWeek Subscriber Club breakfast will take place on Wednesday 22 September. Join us and…
30/09/2010
US: topic to be confirmed
The next HFMWeek Subscriber Club breakfast will take place on Thursday 30 September. Topic and…
19/07/10
HFM Week US Performance Awards
Following the success of the last year’s HFM US Hedge Fund Performance Awards we...
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