Why family offices shift assets from mega funds to smaller funds (Opalesque Roundtable)

Distinguished hedge fund managers and hedge fund investor participated at the 2011 Opalesque West Coast Roundtable in March, sponsored by Kaufman Rossin Fund Services and Custom House Group. The 27 page document can be downloaded here for free: http://www.opalesque.com/RT/RoundtableWestCoast2011.html. The Opalesque Roundtable Series highlights fundamental developments within the global hedge fund industry. A full archive with over 40 Roundtable scripts can be accessed here: www.opalesque.com/index.php?act=archiveRT.

Why family offices shift assets from mega funds to smaller funds

As hedge funds have gone from $1 billion to $5 billion and then to $25 billion, investors feel they became a kind of commodity “sitting on a conveyor belt”. They are more distanced from the investment manager and complain about “canned” answers from IR rather than being able to have thoughtful discussions with investment managers, and changes and prolongs due diligence. While the so-called mega funds can serve a purpose in a portfolio, some family offices prefer to rejuvenate the gene pool of their portfolios and are in fact “excited” about current opportunities with some smaller funds. Another consequence of the industry's asset concentration with the largest funds is that it has actually changed the due diligence process.

Should all hedge fund managers try to "manage the macro"? And if so, how?

In current times of uncertainty, many equity long/short managers who typically have been bottom up are now wanting to add a macro component to their portfolio management, usually by adjusting exposures more often. How should a hedge fund manager, that is not a global macro manager, go about “managing the macro”? And what do investors think about this trend?

Hyper Growth to create tensions – the demise of paper money?

Mapping countries like Japan, Taiwan, Singapore, Korea and Chile against the currently emerging China and India shows how the world is going to look like over the next 10 or 20 years. Hear the Roundtable speculate on some of the consequences of this hyper growth pattern that 50% of the planet's population is entering at this time. Until what point will paper money continue to devalue versus hard assets? How can systematic traders and CTAs help investors in such scenarios?

In this Roundtable, you will further read about:
• Is there a bubble in technology? A view from Silicon Valley
• How energy prices (oil & gas) movements can blind investors
• Democratization of Alternatives: For the past five years alternatives mutual funds are the fastest growing mutual fund sector, growth rates accelerate to 50-55% annualized
• Risk-based investing: New open architecture infrastructure solutions for liquid alternatives allows investors to manage, control and risk-budge investments in multiple managers and strategies and empowers managers to manage money across multiple investors and custodians from a single interface
• What is the strategy mix of emerging West Coast hedge fund managers
• And more Updates & News from the West Coast.

The Opalesque 2011 West Coast Roundtable was sponsored by Kaufman Rossin Fund Services and took place in March 2011 in San Francisco with:
1. Alissa Douglas, Director, CM Capital Advisors
2. Charles Johnson, Managing Director, Tano Capital
3. Rob Romero, Portfolio Manager, Connective Capital
4. Steve Hotovec, Chief Operating Officer and Founder, Alchemy Ventures
5. Patrick Wolff, Founder and Managing Member, Grandmaster Capital Management
6. Chris Wolf, Chief Investment Officer and Founder, Preservation Trust Advisors
7. Jason S. Gerlach, Principal - Director of Strategic Planning, Sunrise Capital
8. Keith Sharkey, Director, KRFS

About the Opalesque Roundtable Series:
Opalesque Roundtable Series is an unparalleled collection of intelligence on the most important global hedge fund jurisdictions and players. In each Opalesque Roundtable, Opalesque unites some of the leading hedge fund managers (single and multi strategy managers) as well as representatives of the local investor base (institutions, fund of funds, advisers) to gain unique insights into the specific idiosyncrasies and developments, the issues and advantages of the highlighted hedge fund centers.

The Opalesque 2011 Roundtable Series are supported by Custom House Group. All Opalesque Roundtable Scripts can be accessed here: www.opalesque.com/index.php?act=archiveRT

Matthias Knab, founder of Opalesque and internationally recognized expert on hedge funds and alternatives, moderates the Opalesque Roundtables.

About Opalesque:
In 2003, with the publication of its daily Alternative Market Briefing, Opalesque successfully launched an information revolution in the hedge fund media space: "Opalesque changed the world by bringing transparency where there was opacity and by delivering an accurate professional reporting service." - Nigel Blanchard, Culross. This hybrid financial news service, which combines proprietary industry news stories and filtered third party reports, has been credited by many industry insiders with delivering precise, accurate, and vital information to a notoriously guarded audience.

Each week, Opalesque sends out over 700,000 editions of its seventeen publications to a global readership in over 170 countries. Opalesque is the only daily hedge fund publisher which is actually read by the elite managers themselves (www.opalesque.com/op_testimonials.html).

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This release was published on openPR.