Hedge funds are increasingly confident that investors will see the worth of their strategies. But they’ll likely experience further declines in FUM and performance before a global “bounce back”.
As a forty-year long bull run fuelled by cheap money screams to a stop, markets are at an inflection point. This time really could be different.
As consolidation gathers pace and big super funds move their investments offshore, it will likely be the biggest private markets managers that benefit. But Your Future Your Super presents a unique set of challenges that can’t be easily overcome.
After 47 years at the helm of the hedge fund he founded, Ray Dalio is giving up day-to-day investment management. But perhaps more surprising is his newfound appreciation for cash.
A new review will address some of the unintended consequences of Your Future Your Super. But while super funds are no doubt holding out for a hero, there’s probably no perfect performance test.
Cracks are showing in the old way of doing things. Being able to make money in a sideways market – and do it without equities – will now be the great differentiator.
As a world of woe continues to roil markets, Australia’s top alternative investment managers gathered to celebrate their gains and raise money for a good cause.
The level of alpha that hedge funds generated in the age of quantitative easing was “lackluster”, but rising market volatility now offer “a richer opportunity set for skilled managers.”
An uncertain market outlook beggars a fundamental rethink of investment strategy. But institutional investors are sticking with what worked in the past, even when they know it won’t work in the future.
As rates rise and the money fuelled tech bubble pops, private companies – and their investors – are buckling down. The hard question, for which there is no good answer, is about what happens next.
