Absolute return fund flows hit their lowest level in more than two years in November. Do the fading inflows suggest investors are losing patience with an asset class that is failing to deliver on its promises?
Yanis Varoufakis would find it hard to resist voting for Brexit if he were British, he said at Expert Investor’s Pan-European Congress in Rome last Friday. However, his wish is not going to materialise, congress delegates believe.
Fund selectors are divided when
determining whether having a star manager at the helm is more likely to lead to long-term performance than a team-based approach.
Barry Norris, manager of the Argonaut Absolute Return Fund, gives his view on what sort of return an absolute return fund should deliver. He also explains the difference between good risk and bad risk.
The Argonaut Absolute Return Fund, a long/short European equity strategy, is Eddy Vanwittembergh’s favourite fund. He maintains the fund as his largest position in the fund-of-funds he runs at the Belgian wealth management company Merit Capital.
Barry Norris, the European equity manager and co-founder of London-based investment boutique Argonaut, is one of the most outspoken proponents of a Grexit. The refusal of the current ‘communist’ Greek government to commit to reforms means the country’s economy could never be able to stand on its own feet if it stays in the eurozone, Norris believes.
“Huge amounts of money have been flowing into multi-asset and risk-parity funds,” said Fred Ingham, head of international hedge fund investments for Neuberger Berman, who was one of the speakers at Expert Investor Europe’s first ever event in Monaco. “Kind of all that money is predicated on similar volatility assumptions about correlations within and across […]
Hedge fund managers have difficult times behind them because of QE-distortion. And things are not looking to get better soon.