Download Alts Democratized, + Website: A Practical Guide to by Jessica Lynn Rabe PDF

By Jessica Lynn Rabe

A complete evaluation of the Liquid Alts marketplace and the way ‘40 Act items Can increase purchaser Portfolios

Liquid possible choices supply traders entry to hedge fund concepts with the advantages of ’40 Act items: decrease charges, greater liquidity, better transparency, and enhanced tax efficiency.

Alts Democratized is a hands-on consultant that gives monetary advisors and person traders the instruments and research to augment patron portfolios utilizing replacement mutual cash and ETFs. Well-grounded in study and replete with greater than a hundred shows of Lipper facts, Alts Democratized profiles the head ten cash 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 varied kinds of beta. Jessica Lynn Rabe and Robert J. Martorana, CFA, mix this examine with a complete framework for fund choice and portfolio development to augment the asset allocation method, facilitate portfolio customization, and deal with patron expectations.

In addition, the publication contains sensible views on concerns pertinent to monetary advisors akin to charges, shopper suitability, and volatility administration. This is helping advisors practice the options to portfolios and provide actionable funding recommendation. The authors additionally interviewed executives at prime wealth administration organisations to supply colour on developments and most sensible practices.

The significant other web site offers ancillary fabrics that make stronger and complement the publication, including:

  • The authors’ most sensible ten takeaways
  • Classification cheat sheet
  • Portfolio building consultant (full color)
  • Talking issues for clients
  • Q&A on liquid alts
  • Presentation with all 118 indicates from the booklet (full color) 

Alts Democratized comprises an entire source for the consultant looking new resources of alpha, diversification, and hedging of tail risks.

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Extra resources for Alts Democratized, + Website: A Practical Guide to Alternative Mutual Funds and ETFs for Financial Advisors

Example text

During the same period, assets held in traditional alternatives have grown more slowly, and dipped slightly from $88 billion in 2012 to $83 billion in 2013. The headwinds for traditional alternatives include high fees and the limited Road Map for the Liquid Alts Space 11 liquidity of hedge funds, private equity, and other strategies held in a limited partnership structure. The year 2013 was also a banner year for equities, and the ongoing rally creates a tough environment for all types of alternative strategies, since bull markets increase risk tolerance and decrease investor preferences for products that diversify or offer downside protection.

When we compare returns in the classification to the underlying factor exposure, we usually offer a comparison to the S&P 500. As a convenience, data on the S&P 500 appears as a table in each chapter, so the reader does not have to flip through the book to find out how the classification compared to the equity market under different market conditions. We also show measures of risk: Sharpe ratios, Sortino ratios, and maximum drawdowns. There are many measures of risk we could have used, but our experience with these funds showed that returns and drawdowns Definitions and Methodology 7 were generally the most useful.

3. 4. 5. Federated Absolute Return Fund Class A (FMAAX) Parametric Absolute Return Fund Institutional (EOAIX) Metropolitan West Strategic Income Fund Class M (MWSTX) Natixis ASG Diversifying Strategies Fund Class Y (DSFYX) UBS Fixed Income Opportunities Fund Class Y (FNOIX) 26 ALTS DEMOCRATIZED The funds from Parametric and UBS had especially low systemic risk (compared to the other three). This process illustrates how investors can screen for products with uncorrelated returns. As for tail risk, Clark ranked the value at risk (VaR) of the 29 funds with a three-year track record as of December 30, 2013.

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