By Jessica Lynn Rabe

ISBN-10: 1118971019

ISBN-13: 9781118971017

A accomplished overview of the Liquid Alts industry and the way ‘40 Act items Can improve customer Portfolios

Liquid choices provide traders entry to hedge fund thoughts with the advantages of ’40 Act items: reduce charges, greater liquidity, larger transparency, and stronger tax efficiency.

Alts Democratized is a hands-on consultant that gives monetary advisors and person traders the instruments and research to reinforce buyer portfolios utilizing replacement mutual money and ETFs. Well-grounded in examine and replete with greater than a hundred shows of Lipper information, Alts Democratized profiles the head ten money in all of the 11 Lipper liquid alt classifications. This contains overall web resources, fund flows, danger and go back metrics, and the issue exposures that force functionality and aid clarify correlations to varied types of beta. Jessica Lynn Rabe and Robert J. Martorana, CFA, mix this learn with a finished framework for fund choice and portfolio building to reinforce the asset allocation approach, facilitate portfolio customization, and deal with shopper expectations.

In addition, the publication comprises sensible views on concerns pertinent to monetary advisors reminiscent of charges, buyer suitability, and volatility administration. This is helping advisors follow the techniques to portfolios and provide actionable funding suggestion. The authors additionally interviewed executives at major wealth administration corporations to supply colour on tendencies and top practices.

The better half site offers ancillary fabrics that strengthen and complement the ebook, including:

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

Alts Democratized comprises a whole source for the consultant looking new assets of alpha, diversification, and hedging of tail risks.

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

Sample text

2 percent aggregate return for all Lipper alternative classifications. The growth in TNA can be attributed mainly to market appreciation, though much of this growth relies on one fund, as we describe later in the chapter. Net flows for Alternative Active Extension Funds slowed in 2009, and subsequently dissipated. 0% Source: Lipper, a Thomson Reuters Company. IPOs 1 5 8 2 2 1 3 Liquidations 3 2 1 1 2 3 Alternative Active Extension Funds 37 four years, this burst of interest faded, and flows have only recently returned to positive territory in 2013.

SUMMARY Absolute Return Funds grew in popularity after the financial crisis, but most of these products have failed to consistently deliver the positive returns and downside protection implied by their mandates. This classification is heterogeneous, so investors have to dig deeply to evaluate the exact exposure of each fund that informs its role as either an equity complement, a fixed income complement, or a portfolio diversifier. These roles determine the appropriate usage in each client’s portfolio, and advisors should manage expectations accordingly.

This classification contains a wide variety of strategies, and some funds offer an attractive level of risk and return that is uncorrelated with the market. Such funds are in the minority, however, since most of these strategies have returns that are driven by exposure to equities. Thus, investors need to do their homework, and cannot blithely assume that Absolute Return Funds will deliver what the name suggests. DEFINITION Funds that aim for positive returns in all market conditions. The funds are not benchmarked against a traditional long-only market index but rather have the aim of outperforming a cash or risk-free benchmark.

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Alts Democratized, + Website: A Practical Guide to Alternative Mutual Funds and ETFs for Financial Advisors by Jessica Lynn Rabe


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