401(k) plan participants lose about 1.56 percentage points in risk-adjusted annual returns relative to the after-fee performance available from low-cost, well-diversified plans.
Tired of the same boring mutual funds? Want some hedge fund action but don’t have the $5 million minimum initial investment? Now there is a product for you – a mutual fund of hedge funds called the Blackstone Alternative Multi-Manager Fund. Among others, here are the managers to whom your capital would be allocated.
Two Sigma Advisers
Credit Suisse Hedging-Griffo Servios Internacionais
Boussard and Gavaudan Asset Management
Good Hill Partners
BTG Pactual Asset Management
Chatham Asset Management
And just like in a typical mutual fund you get daily liquidity, except for those pesky early redemption fees. As far as disclosure, Blackstone doesn’t want the world to know what fee split arrangement it has with these hedge fund managers (sub-advisors) and will only disclose the aggregate fee.
From the SEC filing: – Applicants also request an order exempting the Subadvised Series from certain disclosure obligations that may require each Subadvised Series to disclose fees paid by the Advisor to each Sub-Advisor.
The portfolio is a mix of strategies including distressed credit, black box equity investing, long/short credit, various emerging markets, structured products, etc. It’s all the stuff that retail investors wanted to know about but were afraid to ask.
Now that institutional investors are not stepping up to hedge fund investing the way they used to, it’s time to tap the retail universe.
From our sponsor:
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. Few among us haven’t dreamed of sudden riches – the financial windfall of a big legal settlement, an unexpected inheritance, a winning lottery ticket, or, for the young and athletically gifted, a lucrative contract with a major professional…
Cash withdrawals from bank accounts exceeded 2 billion euros on Wednesday and Thursday, according to bank officials, as the vast majority of Greeks appear to have decided to stash some cash due to the uncertainty of tomorrow’s election. There were also some who have opted for foreign bonds, mutual funds, foreign currency and foreign stocks.…
Extended excerpt from the Executive Summary. The Treasury had a very light calendar and easy skating last week, but the calendar will be heavier in the week ahead, with notes and bonds being offered in addition to the regular weekly bill auctions. The notes and bonds will settle on Friday. It’s unusual for them to…
Back in the day, when a hot company with scale and a lot of interest came along, there was nowhere for investors to express their enthusiasm about a company until the IPO officially happened. SecondMarket has changed that. The company manages periodic share-sale programs for privately held companies, and has emerged as an exchange where…
May 15 (Reuters) – Noted investors including mutual fund giant Fidelity Investments and hedge fund manager Leon Cooperman bought shares of JPMorgan Chase & Co in the first quarter, just before the stock was rocked by revelations of a surprise $2 billion trading loss… Boston-based Fidelity, one of the largest managers of U.S. mutual funds,…
As individuals bail out of U.S. stocks at the fastest rate in three decades, professional speculators have cut bearish bets by the most since 2008. Money managers are net short 19,375 contracts on the Standard & Poor’s 500 Index, down 82 percent from a four-year high in September even after the figure jumped from 3,584…
The StateMutual fund managers who take a small bite of Apple pay a price: poor short …Washington PostBOSTON — A mutual fund manager usually can count on having a good year if the largest investment in the portfolio is surging. But that's not th…
The ICI reported today that US domestic equity mutual funds suffered outflows of $1.6 billion this week, compared with outflows of $8.6 billion last week. Domestic taxable bond funds had inflows of $4.8 billion, similar to last week. For charts and discussion updated weekly see the Mutual Fund Flows page.