|
Andrew Lo
Chairman and Chief Scientific Officer
AlphaSimplex Group
Tobias J. Moskowitz
Professor of Finance and
Neubauer Family Faculty Fellow
Univ of Chicago, GSB; Consultant to AQR Capital
Thomas Schneeweis
Professor of Finance and
Director/CISDM
University of Massachusetts
Erik Valtonen
Chief Investment Officer
AP3
Pranay Gupta
Deputy Chief Investment Officer
Pearl Group Limited
Gerlof de Vrij
Head of Global Tactical Asset
Allocation
APG Investments
Laurence B. Siegel
Director of Research
Ford Foundation
|
|
|
|
Hedge Fund Replication & Alternative Beta USA took place October 29-31, 2007 in New York and attracted over 200 participants.
The conference was extremely well received and stirred great interest amongst pension funds,
hedge funds, and traditional fund managers, helping to promote the profile of hedge fund
replication products globally. The delegate profile was more sophisticated than usual, many with a good understanding of quantitative investment issues.
The hedge fund industry is slowly beginning to acknowledge that large part of its returns comes
not from alpha, but from “alternative beta” factors – systematic exposures to a diverse array of
risk premia. The aim of these funds is to generate hedge fund-like returns without hedge funds
fees.
These recent developments mirror those which took place in the traditional fund management
industry, some 20 years ago, when indexed tracker funds were introduced. The initial take-up was slow, but in time these mechanistic funds, with their lower fees, gained a significant
market share. Will hedge funds now also follow the path of passive investing? The technology is
far more complex, but the major players appear to believe it can be done. Clearly, the stakes are huge.
Speed networking was a tremendous success – over 160 participants swapped business cards and made new contacts. The feedback from the speakers, delegates, sponsors and exhibitors from the three day event has been overwhelmingly positive.
We would like to thank our sponsors: JP Morgan, Credit Suisse Tremont Index, Deutsche Bank,
Goldman Sachs, Merrill Lynch, Morgan Stanley , Markov Processes Intl, , Index IQ, Stonebrook
Capital, Partners Group, Risk Data, and Brighton House Associates. We also want to thank our
endorsing associations.
We would like to thank our sponsors...
|
