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FT Mandate’s research on processes and performance of fund of hedge fund managers is analysed by Henry Smith.

Funds of hedge funds are best suited for alpha strategies, while those with a beta focus could be better off using investable hedge fund indices. Mathieu Vaissié explains.

Strategic asset allocation target reassessed every quarter and portfolios constantly monitored.

CORONATION FUND MANAGERS

Style bias diversification within a strategy is a key selection criteria.

GOTTEX FUND MANAGERS

Risk management relies mainly on qualitative factors.


LOMBARD ODIER DARIER HENTSCH & CIE

FT Mandate’s research on processes and performance of

pan-European bond players is analysed by Henry Smith.

Multi-factor scoring system is part of five-step investment process.

The fixed income team develops asset and liability management products paying close attention to investors’ liability objectives.

DeAM’s predicts more inflation indexing and corporate bond investment.

A proprietary quant model and bond managers’ knowledge are combined to plot fund strategy.

— Corr: institutional pan-European manager

E5.46bn in pan-European equities

Flagship product

Morley does not have a pan-European institutional fund, but runs a segregated institutional pan European Fund on behalf of a client.

E7.8bn in pan-European equities.

Flagship product

JPMF Europe Equity fund, E1.9bn low risk fund with tracking error of 2-4 with +/-2 stock active and +/-3 sector and country.

E6.12bn in pan-European equities

Flagship products

Pan-European Large Cap and Mid Cap Equities

— Pizem: head of European equities team

Flagship product
Axa Europe Actions

Investment process

Active and fundamentally based, conviction-led, driven by in-house research. Largely bottom-up and risk managed. Main portfolios have no systematic factor or style. Four-step process consists of:

FT Mandate’s research team compares process, portfolio breakdowns and performance.