If you would like to receive the entire Trip Report, including the Manager Reports of the 10 visited funds, please drop an email to Markus Moser (email@example.com).
The trip to London focussed on multi-manager funds, macro / trading funds and alternative risk premia funds
Multi-manager funds have proven themselves to be alternatives to fund of hedge funds because of their diverse nature and centralized risk management while size, culture and risk framework are differentiating factors
Macro / trading hedge funds view the sharp sell-off in February mostly as technical or behavioural in nature as macro-economic fundamentals did not warrant the speed and magnitude of the market’s reaction
Hedge funds reduced directionality across all strategies, as gross and net exposures have come off recent highs, while the outlook is more muddled, mostly due to policy and geo-political uncertainty on the rise
Alternative beta is gaining traction as a less costly way to access alternative risk premia, which have academically been an element of certain hedge fund strategies