Lyxor Asset Management – Best Managed Account Platform
The Lyxor Managed Account Platform currently supports more than 100 managed accounts totalling more than USD10bn in assets under management and is today the world’s largest such platform. It offers an unrivalled range of alternative strategies that replicate some of the best-performing hedge funds in the industry.
Recognising the importance that its investors now places on transparency, liquidity and rigorous risk management, Lyxor’s dedicated team of more than 40 investment professionals is able to provide them with one of the industry’s most advanced managed account models.
Innovation is critical to Lyxor MAP’s success and allows it to provide diversification, one of its key strengths, by continuously enriching the platform with new best-in-class hedge fund managers using a disciplined selection process. To that end, its 12-year track record helped it add an impressive 18 new managed accounts in 2010, at the same increasing its diversification by welcoming such prestigious hedge fund managers as Traxis, Caxton, Halcyon, Pioneer and Mariner.
Strategies often not found on other managed account platforms that offer high potential are supported by Lyxor MAP, including distressed securities and emerging markets. Its diverse range of strategies, along with the security of its platform, make Lyxor a stand-out candidate amongst investors. Furthermore, the platform’s systematic risk controls, detailed reporting capabilities and weekly liquidity support Lyxor’s other key strengths of risk management, transparency and flexibility.
The fact that investor inflows returned to Lyxor in the second half of 2010, following outflows registered in the aftermath of the eurozone sovereign debt crisis, indicates the confidence with which investors view the platform.
Last year saw the confirmation of institutionalisation and consolidation in the hedge fund industry that started post-crisis, according to Lyxor chief executive Laurent Seyer (pictured). “As investors’ demands have increased with respect to performance expectations, risk management and transparency, so hedge fund managers have become more willing to listen,” he says.
“Investors need to deploy more to alternative strategies due to their attractive risk/return ratios. At Lyxor Asset Management, we’re confident that our managed accounts will continue to be an appropriate answer in 2011.”
To illustrate the dedication Lyxor MAP places on staying ahead of the competition, this year has already seen it fill its pipeline, having launched five new funds in the space of two months from managers including BlackRock, Advent and Visium.
Lyxor won a number of mandates from institutional investors – they account for more than 80 per cent of the firm’s clients – last year as British, Dutch and Asian pension funds as well as Asian corporate insurers and distributors started switching their hedge fund investments into managed accounts. The firm managed a total of more than USD25bn in alternative investments at the end of 2010.
Last year was a good one for the platform in terms of performance. Its 20 best performers posted returns ranging from 12 to 29.5 per cent across a range of strategies. Equity long/short is by far the largest strategy area with numerous managed accounts covering different geographical zones and sectors. CTAs, event-driven and risk arbitrage managers represent the next most diversified strategies. Event-driven managed accounts represent the biggest strategy measured by assets, followed by CTAs.
Says Seyer: “We’re very proud to win this award for the second time, since voters represent not only industry professionals but also investors. Lyxor MAP has confirmed its robustness and leadership throughout 2010, and we have the ambition to stay first in the industry in 2011.”
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