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...Eisler, which only started its multi-manager fund in 2021 and has grown to manage $4bn of assets, was founded by former co-head of Goldman Sachs’ global markets division Edward Eisler....
...Total assets in so-called multi-strategy mutual funds that are governed by Ucits rules have dropped 30 per cent in a year to £8.8bn, according to Kepler....
...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...
...Mainstream asset manager Newton Investment Management is pitching investors a multi-manager hedge fund with teams trading equities, currencies, commodities, bonds and quant strategies....
...The structure allows asset managers to bolster their ETF franchises without launching new funds from scratch while preserving existing assets and performance records....
...FT Asset Management is your must-read newsletter on the movers and shakers behind a multi-trillion dollar global industry. You can sign up here and read the back issues here....
...Abrdn said equity and multi-asset funds suffered customer withdrawals, although “the pace of outflows showed signs of slowing”....
...BondBloxx has rolled out three ETFs that offer exposure to triple B rated corporate bonds....
...The £1.3bn of so-called class B debt, which is still inside the ringfence but has a lower-ranking claim on the company’s cash flows, could be hit with even deeper 35-40 per cent impairments....
...“The funds will be chosen where the adviser believes the multi-class structure is in the best interest of the ETF class and mutual fund class individually, and the fund as a whole,” the filing states....
...It would not surprise me if multi-strategy hedge funds were similarly vilified after the next crisis....
...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...
...In practice, the pass-through model is equivalent to fees on investor assets of between 3 per cent and 10 per cent....
...The structure has helped power the $9tn asset manager into a position where it is chipping away at BlackRock’s dominance in the ETF industry, with its multi-share class funds amassing more than $5tn in assets...
...In 2020 the firm launched three actively managed multi-asset ETFs that invest in other ETFs....
...“We intend to buy teams, like a Serie B team, and have the unlocking of value occur for two reasons: one would be eventual advancement and perhaps promotion . . . and two, just getting them inside a public...
...For wealthy investors, despite the receding threat of inflation, there is still a need to diversify, stresses John Roe, head of multi-asset funds at Legal & General Investment Management....
...Some funds continue to thrive but many of the multi-manager platforms, according to dozens of brokers and asset allocators, have found the rally to be the hardest environment they have operated in for many...
...None of DWS’s institutional mandates or multi-asset funds currently invest in cryptocurrencies, however....
...Among other multi-manager funds, Eisler Capital, which has $4bn in assets, gained 9.8 per cent last year, according to a person familiar with the matter....
...“Investment trusts used to be a uniquely British success story and a vibrant part of the market,” said James de Bunsen, a portfolio manager at Janus Henderson Investors’ multi-asset team....
...Further reading:— Across the multimanagerverse (FTAV)— Multi-strategy hedge funds are the new, superior fund-of-funds (FTAV)...
...Multi-managers have accordingly generated much of the growth in hedge fund assets under management over the past five years....
...Goldman Sachs estimates that between 2018 and 2022, multi-manager assets grew by 150 per cent and the rest of the hedge fund industry grew by just 13 per cent....
...Assets at multi-manager firms increased 150 per cent between 2018 and 2022, according to Goldman Sachs, against 13 per cent growth for the rest of the hedge fund industry....
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