Global Money Management - Funds Of Funds: A Changing Profile

Funds Of Funds: A Changing Profile

Those funds of funds that refuse to evolve their business models are unlikely to gather assets in line with their peers, according to hedge fund managers. Firms will evolve from the traditional multi-strategy model to offer strategy-specific funds of funds and bespoke portfolios or watch as their more mature clients walk away. “Do you evolve your business model with investors or do you let your investors mature and keep going after new ones?” asks Edgar Senior, head of global capital services at Credit Suisse. Brian Altenburg, a managing director at Bank of America, noted earlier this year that funds of funds may need to come up with more niche offerings to justify their role. Those that do will take market share while the rest “just keep business as usual,” he said. Duncan Crawford, head of capital introductions at prime broker Newedge, agreed, noting that concerns about ownership and custody of assets are likely to herald a half-way house, with ...

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Funds Of Funds: A Changing Profile

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