Thu, 20/05/2010 - 16:04
Navellier & Associates and its affiliate Navellier Hedge Management have launched Navellier Select, the firms’ new alternative investment fund of funds.
Navellier & Associates currently runs over USD2.5bn in client assets, spread across a variety of equity strategies.
But Navellier Select, a dynamically managed portfolio of hedge funds that pursues diverse managers, strategies, and asset classes across liquid global markets, is the firm’s first fund of funds offering.
The portfolio consists of seven to 12 uncorrelated funds, managing over USD3.4bn in combined assets that have demonstrated exceptional risk-adjusted returns.
“The fund of funds concept is not new to us,” says chief investment officer Louis Navellier. “We’ve acted as a consultant for multi-manager portfolio evaluations for clients for years, analysing how a client’s group of investment managers blend together, using the same or similar statistical tools we use in constructing equity portfolios for clients.”
As an existing investment manager, Navellier believes his firm brings a unique set of skills to the fund of funds business.
“First, our due diligence competence comes from being under the microscope of institutional investors on a regular basis, so we understand that process intimately,” he says. “Second, because we’re in the money management business, we are regularly exposed to fantastic money managers across a wide range of strategies. Finally, just as we’re obsessed with mixing and matching the stocks in our clients’ portfolios, we are equally obsessed with mixing and matching the managers in the Navellier Select portfolio in an effort to produce optimal return prospects with appropriate levels of risk.
“We definitely have a quantitative bias, but we don’t let that restrict us in any absolute way,” he adds. “The qualitative aspects of a manager are actually given greater weight in our selection process. I also particularly want our managers to provide transparency and reasonable liquidity terms. Perhaps most important of all, we’ve assembled a very energetic, experienced, dedicated, and talented team for the Navellier Select project.”
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