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...Multi-managers, which include giants Izzy Englander’s Millennium and Ken Griffin’s Citadel as well as Eisler, employ teams of professionals trading a wide variety of strategies, diversifying the fund against...
...The US alternative asset manager has told investors it will wind down the Blackstone Diversified Multi-Strategy fund by the end of the year, the group told the Financial Times....
...The firm, one of the world’s most prominent multi-manager hedge funds, has 5,500 employees globally and more than 300 investment teams trading a range of different strategies within strict risk limits....
...Mainstream asset manager Newton Investment Management is pitching investors a multi-manager hedge fund with teams trading equities, currencies, commodities, bonds and quant strategies....
...BlackRock has struck a deal with the Saudi Arabian government to open a multi-class investment firm in Riyadh, anchored by a $5bn mandate from the kingdom’s Public Investment Fund....
...“Trump is starting to enter the narrative as the US election approaches,” says John Roe, head of multi-asset funds at Legal & General Investment Management....
...It offers funds of funds that give institutional investors access to private debt, infrastructure and private equity strategies....
...British players who are focused on equities have also had to contend with the fallout from a multi-decade shift by UK pension funds away from holding shares in their local market, which deprived domestic...
...The multimanagerverse FT Alphaville has already written extensively about the growth of multi-strategy/multi-manager hedge funds, their increasingly large market footprint, the rise of copycat strategies...
...These firms pursue expensive models that can rely on hundreds of portfolio managers trading a variety of strategies across markets, and so charge higher overall fees than the average hedge fund....
...Further reading:— Across the multimanagerverse (FTAV)— Multi-strategy hedge funds are the new, superior fund-of-funds (FTAV)...
...Raffaele Savi, Robert Fisher and Anna Hawley are the portfolio managers of the global high income equity strategy, while the US-focused vehicle is managed by Savi, Fisher and Travis Cooke....
...But then if you turn it back in on itself, it sits under the multi-manager fund strategy....
...Generations of market participants learnt to sell their winners and buy the underperformers, said one manager whose hedge fund is now in urgent search of a new strategy....
...with in-kind transactions and efficient rebalancing, modifying the fund’s investment strategy, and liquidating the fund,” the filing reads....
...Meanwhile, Canadian alternatives giant Brookfield Corporation last year closed its multi-strategy hedge fund Brookfield Hedge Solutions Advisors after four years, reflecting challenges scaling the $1.3bn...
...Millennium, which was founded in 1989 by Izzy Englander, has grown to become one of the most prominent multi-manager hedge funds in the world, with about $63bn in assets under management and average returns...
...Private pension funds constitute half of the UK institutional market and the rise in bond yields since the pandemic is now delivering a double whammy to managers’ revenues....
...“They need a solution on how to become alternative managers themselves.”...
...Some fund managers also blame regulatory changes for choking demand....
...Multi-managers have accordingly generated much of the growth in hedge fund assets under management over the past five years....
...But much larger asset managers such as Germany’s DWS see little opportunity in the UK market. Instead, it prefers to grow via a low fee exchange traded fund strategy — Xtrackers — and alternatives....
...In a complaint filed in federal court in Manhattan on Friday, Jane Street alleged that Douglas Schadewald and Daniel Spottiswood, two former employees who defected to the multi-manager firm earlier this...
...Some of this has flowed to multi-manager hedge funds, which spread clients’ money over a range of strategies including long-short equity....
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