Hedge Fund Managed Accounts 2012

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Articles

Aleks Kins, AlphaMetrix

Evolution centres on flexibility and customisation

By James Williams – Greater sophistication among hedge fund managed account investors is changing the way managed account platforms (MAPs) operate. Flexibility and customisation are at the forefront of the offering among independent platforms, free of the regulatory manacles being imposed on banks. »


Stephen McGoohan, Man Group

Clarus supports broader awareness of allocations

Interview with Stephen McGoohan (pictured), Man Group – Lack of portfolio transparency continues to be a major worry for investors. And whilst managed accounts provide many with the control and transparency they need when investing in hedge funds, continued market uncertainty and counterparty risk prompted Man Group to develop an online portal solution in March this year. »


Nathanael Benzaken, Lyxor

Increased demand for bespoke portfolio solutions

Interview with Nathanael Benzaken – Lyxor’s Managed Account Platform, with over 100 funds and approximately USD11billion in AUM, has long been a leading light for investors wanting to allocate into commingled managed accounts. »


Effie Datson, dbSelect

dbSelect sees ongoing growth

Interview with Effie Datson – For CTA managers on Deutsche Bank’s dbSelect platform, 2012 has very much been a year of contrasting fortunes. According to Effie Datson, director, product head for dbSelect, 1H12 was a challenge for these trading strategies, but managers generally posted good returns in July, August and September. And, though October has been a difficult month, the long-term case for adding such strategies to a portfolio remains robust. »


Martin Fothergill, managing director, dbalternatives managed accounts platform, Deutsche Bank

Service providers push to deliver greater transparency

By James Williams – Despite the operational challenges that face managers who decide to take on managed accounts, it seems almost inevitable that as more institutional money comes into the alternatives space, managed account AUM will continue to climb. This is because capital raising, for all but the biggest and best managers, remains an almost Sisyphus-like endeavour. »


Eric Bissonnier, EIM

The four advantages of EIM’s LumX platform

By Eric Bissonnier & Francesco Samson – Robust independence Institutional investors remain, to some degree, nervous allocating to bank-owned MAPs because of counterparty risk concerns. Admittedly, some are now using independent administrators, but LumX uses a completely open architecture. Explains Bissonnier: “We built our platform from an asset manager’s viewpoint. It’s not a profit centre for us, it’s a tool that has to be as efficient and flexible as possible. All the service providers we use are independent from each other.” »


Ed Gouldstone, Linedata

Meeting the operational challenges

Interview with Ed Gouldstone (pictured), Linedata – Whilst managers might welcome investor requests for managed account mandates given today’s tough capital raising environment, the reality is that, operationally, they still present certain challenges. Ten years ago, most managers would have balked at the idea of taking on managed accounts, but that mindset is starting to shift. »


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