By Jessica Lynn Rabe
A complete assessment of the Liquid Alts marketplace and the way ‘40 Act items Can improve buyer Portfolios
Liquid choices provide traders entry to hedge fund innovations with some great benefits of ’40 Act items: reduce charges, larger liquidity, better transparency, and stronger tax efficiency.
Alts Democratized is a hands-on advisor that provides monetary advisors and person traders the instruments and research to augment consumer portfolios utilizing replacement mutual cash and ETFs. Well-grounded in examine and replete with greater than a hundred shows of Lipper facts, Alts Democratized profiles the pinnacle ten money in all of the 11 Lipper liquid alt classifications. This contains overall web resources, fund flows, threat and go back metrics, and the issue exposures that force functionality and support clarify correlations to numerous different types of beta. Jessica Lynn Rabe and Robert J. Martorana, CFA, mix this examine with a finished framework for fund choice and portfolio building to augment the asset allocation method, facilitate portfolio customization, and deal with shopper expectations.
In addition, the publication comprises practical views on concerns pertinent to monetary advisors similar to charges, purchaser suitability, and volatility administration. This is helping advisors observe the options to portfolios and provide actionable funding suggestion. The authors additionally interviewed executives at top wealth administration organisations to supply colour on tendencies and most sensible practices.
The better half web site presents ancillary fabrics that make stronger and complement the publication, including:
- The authors’ most sensible ten takeaways
- Classification cheat sheet
- Portfolio development consultant (full color)
- Talking issues for clients
- Q&A on liquid alts
- Presentation with all 118 shows from the e-book (full color)
Alts Democratized comprises an entire source for the consultant looking new resources of alpha, diversification, and hedging of tail risks.
Read or Download Alts Democratized, + Website: A Practical Guide to Alternative Mutual Funds and ETFs for Financial Advisors PDF
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Extra info for Alts Democratized, + Website: A Practical Guide to Alternative Mutual Funds and ETFs for Financial Advisors
The key takeaway from this exhibit is that net flows for liquid alts have been consistently positive for 10 straight years, a remarkable testimony to investor appetite for liquid alts. 4 shows the initial public offerings (IPOs) of liquid alternative funds for all 11 Lipper classifications going back to 1969. These funds were not labeled as alternative back then, but a few funds that exist today have long track records. The data extend through April 22, 2014. The growth of liquid alts accelerated dramatically in 2005, when there were 25 new products launched in eight different Lipper alternative classifications.
This book often refers to analysis by the research staff at Lipper, which has done extensive work on factor exposures. We discuss this in detail in Chapter 3, Absolute Return Funds, and this chapter is the best starting point for a detailed discussion of how factor exposures affect the risk/return profile of alternative mutual funds and ETFs. The authors wish to thank Andrew Clark, PhD, Manager of Alternative Investment Research, for his assistance in helping to understand and interpret Lipper’s research in this area.
Institutional investors routinely allocate 30 percent or more of their portfolios to hedge fund strategies, while most portfolios managed by wirehouse advisors have an allocation of less than 5 percent. The fund manager research teams recommend a significantly higher weighting to alternative strategies, with most clustering around 10 percent to 15 percent. This suggests significant growth ahead as advisors and investors become more familiar with the products. 1 shows Lipper data for total net assets (TNA) of ETFs and open-end mutual funds.