Hedge Funds: Global Multi-Strategy
Hedge Funds: Global Multi-Strategy

Hedge Funds: Global Multi-Strategy

 
 
 
Summary

Provides broad exposure to hedge fund managers pursuing directional, relative value and event driven strategies.

 
 
Investment Approach
Philosophy

Superior investment returns, in the team’s view, are driven by an intense focus on risk vs. reward. The overarching investment philosophy hinges on managing risk first and foremost, then maximizing returns within that risk-managed portfolio. Each hedge fund must offer strong risk/reward potential, both on an individual basis, and when combined with other hedge funds.  The primary focus is picking the best managers using a bottom-up research approach. A top-down strategy analysis guides the team's manager search efforts to higher alpha opportunities.

 
Differentiators
Deep Network and Access

The team's reputation as long-term investors, combined with an extensive network of hedge fund contacts, enables the team to provide clients with access to what we believe are best-in-class hedge fund and emerging investment talent.  

Experienced and Stable Team of Investment Specialists

Portfolio managers average close to 20 years of industry experience and close to ten years of experience working together. Investment professionals work in strategy-focused teams that, in the team's view, enable them to: gain deep technical knowledge of alpha generation strategies within their designated hedge fund sector, build strong relationships that enhance sourcing and due diligence activities and identify innovative managers and strategies before they are widely known.

Disciplined Investment Process

The team employs a tested multistep due diligence process that combines qualitative, quantitative and operational risk perspectives.  Bottom-up manager evaluation is combined with a top-down view of the investment landscape to arrive at desirable position sizes and strategy, geographic and regional exposure. 

Strong Operational Risk Management Team and Processes

Well-resourced team with veto power over investment decision. Conducts on-site due diligence, background investigations, service provider evaluations, document review and analysis of the control environments, among other activities.

 
 
 
Investment Process
1
Sourcing

The team leverages its deep strategy-specific expertise and extensive industry relationships to identify skilled hedge fund managers across the globe.  An open-door policy and no size-related bias facilitates the identification of emerging investment talent and innovative strategies.  

2
Analysis

Potential investments are evaluated through a detailed quantitative and qualitative process, involving three separate teams: the investment team, quantitative analysis team and the operational due diligence team.

3
Portfolio Construction

Along with standard inputs such as risk-return targets, liquidity requirements and manager correlations, the team applies its active views on hedge fund strategies, taking into consideration the current macro landscape as well as future expectations of how the strategy is likely to perform over the medium term when seeking to build portfolios that will achieve their objectives across market cycles.

4
Implementation

The hedge fund team's Investment Committee approves each investment. We believe this approach promotes debate and continuity of decision-making and reduces key man risk.

5
Monitoring and Risk Management

Post-investment, both the overall portfolio and all underlying hedge fund investments are continuously evaluated through qualitative and quantitative measures.  If the performance of an underlying investment deviates from our expectations, appropriate action is taken to remediate the effects of the investment on the portfolio. Continuous dialogue with our managers is central to the team's risk management process.

 
 
Portfolio Managers
Chief Investment Officer and Head of the AIP Hedge Funds Team
22 years industry experience
Managing Director
16 years industry experience
Executive Director
20 years industry experience
Managing Director
24 years industry experience
Managing Director
24 years industry experience
Managing Director
21 years industry experience
Managing Director
16 years industry experience
 
 
 
 

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リスクについて

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受託資産の運用に係る費用について

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