The Schroders multi-man-ager team has added Goldman Sachs dynamic opportunities – the biggest London-listed hedge fund of funds – to all three of its multi-manager portfolios.Dynamic global opportunities is a closed-ended fund of hedge funds which raised 274m during an initial public offering in July. The fund has a relatively concentrated portfolio and is managed by Goldman Sachs’ New York-based hedge fund strategies group, which is responsible for around $15bn in hedge fund money. The Schroders multi-manager team says that because hedge funds make up a tiny part of its fund of fund portfolios, it prefers exposure to funds of hedge funds with concentrated portfolios. The Goldman Sachs fund fits the bill as it invests only in the manager’s favourite names. Schroders head of multi-manager investment Andrew Yeadon says: “We play hedge funds through a basket of holdings. Goldman Sachs has a very good track record in hedge funds and a number of successful hedge fund managers have come out of its trading desks. “Dynamic opportunities is the company’s first closed-ended listed vehicle and the portfolio is diversified, with no makeweights or structural bias. But the reality is there are liquidity constraints so we would never want to invest a large part of the portfolio in hedge funds.” The multi-manager team has also been reducing exposure to commercial property as it believes there are more attractive opportunities in plain vanilla equities.
Home ownership is as popular today as it has ever been and all the indications are that this trend is likely to remain. There are also more mortgage products on offer than ever before and independent research confirms that consumers need help when it comes to finding the best deal for their needs. In research […]
It still has not occurred to trade unions, the Government and large swathes of the financial services industry that it really is not an employer’s task to look after the pension provision of staff. They are not benefit agencies or nannies. In the last analysis, they provide a good or service and pay a market […]
“Mature, well-endowed Mutual WLTM trim attractive partner. Must have GSOH and a specialised lending division”. Perhaps not how it happened, but nonetheless the intriguing union between Nationwide and Portman announced last week carries significant portents for many.
Wrap and platform providers have been accused of protectionism by not allowing bulk re-registration on and off their platforms. At the Money Marketing Wrap Round Table, IFAs called on wrap providers to make the enabling of bulk re-registration a priority. Falcon Group business development manager Piers Denne said platforms are likely to develop in different […]
With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
It is likely the increased regulatory scrutiny on fund managers’ value could filter down to advice firms in the future In my last article, I considered the influence a non-executive director could have in challenging an advice firm’s business model in light of the pension transfer issues. Now, in its asset management market study final […]
The financial services industry has failed to find ways of nudging consumers to think about their options at retirement, despite three years of pension freedoms. A panel at the Association of British Insurers retirement conference today lamented the way companies talk to people about pensions and the lack of engagement it inspires. ABI director general […]
The new chief executive of the single financial guidance body can expect a salary of £175,000 a year, according to a job advert posted online. The advert, posted on the Cabinet Office website says applications will close in mid-May with final interviews held in early July. The date for announcing the successful candidate has not […]