CAIA: The Case For Liquid Alternatives
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Investing is challenging as it is both complex and complicated. Each point requires continuous learning and updating of mental frameworks. Conflicts and contradictions are found everywhere. For example, data from the mutual fund industry shows that most funds fail to outperform their benchmarks, but investors in hedge funds allocate primarily for alpha generation as shown by the latest JP Morgan industry survey. If mutual funds do not generate any alpha, why should hedge funds? Perhaps the assumption is that hedge funds have more flexibility with regards to investing, which provides for a greater opportunity to generate alpha. However, they also charge high fees that directly reduce alpha. Fortunately for investors, many classical hedge fund strategies have become available in low-cost mutual fund and ETF formats, which might represent the best of both worlds.
Panelists: Nelson Lacey, Director of Examinations, CAIA Association, and moderated by Mirjam Dekker, MBA, MS HRD, Project Manager, FDP Institute
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