Alternative Fund Insight

Hedge funds posted a twelfth straight quarter of gains in Q3, putting the $5trn industry on course for its best calendar year of the decade. On this episode, Will dissects the latest trends in the hedge fund space with Declan Quilligan, head of hedge fund services at Citco, and explores North American trends and the firms focus on client shadow footprint reduction and workflow optimisation programs with regional head Peter Kane. Will also provides an update on the upcoming AFI Hedge Fund Innovation Summit: https://alternativefundinsight.com/afi-innovation-summit/AFI report on Citco research: https://alternativefundinsight.com/strong-q3-puts-hedge-funds-in-sight-of-best-returns-of-decade-citco/Citco research: https://www.citco.com/insights/citco-monthly-hedge-fund-update-september-20252:00 - Introduction to Declan Quilligan.2:38 - DQ round-up on key performance and flows trends in 2025.4:00 - Macro, multi-strategy, equity strategies lead in Q3 and YTD.6:34 - Multi-strategy dominate inflows data. Sector now at $5trn.7:37 - Introduction to Peter Kane, head of Citco Fund Services (North America). Overview of key trends in that market, focus areas for the firm.9:31 - Client shadow footprint reduction and workflow optimisation programs that go alongside.13:43 - Momentum of hedge fund space from his seat in NY, profile of firms they work with.2025 headline partnerThis podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Hosted on Acast. See acast.com/privacy for more information.

A conversation with Simon Nixon, a senior financial journalist and leading macro thinker. Nixon, formerly the chief European commentator at the Wall Street Journal, was a keynote speaker at the AFI Acceleration Summit on 1 October and shares his thoughts in a separate conversation with Will Wainewright. Future of the West - Making sense of a new world order where power rules — and economic norms no longer apply. This briefing explores global trends in geopolitics and macroeconomics, including the impact of Trump’s trade policies, the enduring rise of China, the future of Europe and the UK in a thought-provoking fireside conversation.A link to Simon's newsletter: https://nixons.substack.com/Euractive article: Where is Europe's economic drone wall? https://www.euractiv.com/opinion/where-is-europes-economic-drone-wall/2025 headline partnerThis podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Polina Kurdyavko, head of emerging markets and senior PM at RBC BlueBay Asset Management, was the special guest, sharing insights on her investing approach, career background and the opportunity set in EM heading into 2026. (Recorded Tuesday 7 October).1:42 — Career background and evolution.2:26 — Started career in 1998, personal family motivation.3:40 — Kurdyavko’s big-picture view on EM and why it provides a fertile hunting ground in alts.6:35 — Moving from relative to directional opportunity.8:55 — Impact of this year’s volatility and turbulence on the opportunity set going forward.14:22 — Episode sponsor: Altaira Strategic Partners.15:05 — Follow-up on de-dollarization trend.21:28 — Thoughts on China — real estate, general outlook, significance.24:24 — Rising allocator interest in EM?26:50 — Looking ahead into 2026.China article - Polina’s Perspective: a pimple soup experience in ChinaRBC BlueBay coverage on AFIAFI membership | LinkedIn page | Free AFI bulletins | Weekly multi-strategy update.AFI Innovation Summit agenda and registration*Not investment advice. Past performance is no guarantee of future returns*2025 headline partnerThis podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information.Episode 46 sponsorThis episode is brought to you in association with Altaira Strategic Partners, which partners with emerging and established asset managers to provide a state-of-the-art institutional operating environment. Their cutting edge approach helps managers to bring their products and ideas to the marketplace with speed, efficiency and the latest innovations. Its heritage goes back to TIG which has been providing institutional back and middle office services to fund managers since 1980. Meet the team in Mayfair at the AFI Innovation Summit on 13 November, and visit altairastrat.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Email commercial@alternativefundinsight.com for corporate discounts.Follow the latest developments via our LinkedIn page. Sign up to free AFI bulletins. Get a free weekly multi-strategy update.Will interviews Declan Quilligan, head of hedge fund services at Citco, for a review of August hedge fund performance and flows trends. We also have a short preview of the AFI Acceleration Summit, coming to Mayfair on Weds 1 October. For more resources, check out:AFI:August gains boost hedge fund sector as summer inflows continue: CitcoCitco:August monthly research reportEvents:AFI Acceleration Summit agenda and registration*Not investment advice. Past performance is no guarantee of future returns*2025 headline partnerThis podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Email commercial@alternativefundinsight.com for corporate discounts.Follow the latest developments via our LinkedIn page. Sign up to free AFI bulletins. Get a free weekly multi-strategy update.In this curated episode, Will interviews François Rivard, CEO at Montreal-based Innocap. Once a FoHF, Innocap is now the leading provider of dedicated managed accounts (DMAs) to the hedge fund industry with $85bn committed across 350 funds (as of start-'25). The pair discuss the drivers of growth in managed accounts and explore the future for the sector in this one-off episode. For more resources, check out:INTERVIEW: Innocap CEO François Rivard on managed account growth, DIY multi-strat and ADIA dealSPECIAL EDITION: Managed Account Intelligence, from AFIInnocap website1:35 — Introduction to Rivard and role at Innocap.3:05 — Explaining the difference between SMAs and DMAs (separately and dedicated managed accounts).6:20 — What has driven huge recent increase in DMA market?16:19 — Example of capital efficiency in practice.19:55 — Focus on giving allocators choice.20:52 — Different service providers now comfortable with the structures.22:14 — Discussion of emerging manager trends and outlook.25:25 — Emerging manager alpha.26:12 — Strong outlook for hedge fund market going forward.30:30 — Range of LPs driving this trend, no longer just the largest.32:51 — Is this a global trend?35:36 — How to use DMAs to drive portable alpha.38:15 — Innocap priorities going forward.*Not investment advice. Past performance is no guarantee of future returns*2025 headline partnerThis podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Email commercial@alternativefundinsight.com for corporate discounts.Follow the latest developments via our LinkedIn page. Sign up to free AFI bulletins. Get a free weekly multi-strategy update.In this episode, Will interviews Declan Quilligan, head of hedge fund services at Citco, to review July performance and flows trends; and is joined by Peter Quinn, head of the firm's transformation office, to explore the benefits of efficient data transformation to GPs and their clients.2:00 — Discussion of strong event-driven performance with Declan Quilligan.5:00 — July hedge fund headlines across performance and flows.6:24 — What should we read into European data?7:50 — Introduction to Peter Quinn and the transformation office at Citco.8:25 — What are the benefits of efficient data transformation to GPs and their clients?9:42 — Regulatory and LP pressures at play.10:37 — Practical implications.12:00 — Importance of integration — and the technology development.14:20 — AI opportunities and challenges.15:30 — Continued growth going forward.*Not investment advice. Past performance is no guarantee of future returns*Headline partnerThis podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Email commercial@alternativefundinsight.com for corporate discounts.Follow the latest developments via our LinkedIn page. Sign up to free AFI bulletins. Get a free weekly multi-strategy update.In this episode, Will interviews Man Group's Greg Bond in his first interview since promotion to CIO at the $193.3bn firm. Topics by timestamp:1:45 - Introduction to Greg, his career background and new role.2:33 - His take on volatility of the last few months and the role of alternatives in that environment.3:32 - Importance of Solutions offering, rise of multi-strategy in the sector.5:11 - Customisation trend continues apace.7:45 - How he sees multi-strategy concept, rise of new approaches.10:14 - Role of technology at Man Group, areas of innovation.12:53 - How can AI be used to unlock more opportunities.14:35 - Including on the operational side, now just in alpha generation.15:59 - Position of hedge funds, more in vogue now rates higher and liquidity key.17:55 - Other key edges for Man Group.19:34 - Sports and investments world crossover, data-driven decision-making, his “Moneyball” experience with Boston Red Sox.22:00 - What’s next for Man Group?*Not investment advice. Past performance is no guarantee of future returns*Headline partnerThis podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Episode partnerThis podcast is brought to you in association with Altaira Strategic Partners, which partners with emerging and established asset managers to provide a state-of-the-art institutional operating environment. Their cutting edge approach helps managers to bring their products and ideas to the marketplace with speed, efficiency and the latest innovations. Its heritage goes back to TIG which has been providing institutional back and middle office services to fund managers since 1980. Meet the team in Mayfair at the AFI Acceleration Summit on 1 October and AFI Innovation Summit on 13 November, and visit altairastrat.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Use the code PODCAST10 for a 10% discount on AFI Intelligence (first year, new subscribers only). Group discounts available for corporates: Ask Will or email commercial@alternativefundinsight.com for more details!You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All ratings and feedback welcome!Follow the latest developments via our LinkedIn page. Sign up to free AFI bulletins. Get a free weekly multi-strategy update.In this episode, Will interviews Declan Quilligan, head of hedge fund services at Citco, to review industry trends in H1, which saw hedge funds gain through volatile markets, inflows continue, with more interest from private wealth channels, and the use of SMAs increase. Find topics by timestamp below:1:44 - analysis with Declan Quilligan starts.2:01 - review of headline hedge fund performance trends.3:38 - equity and multi-strategy hedge funds led the way as most strats rose.4:53 - consistency a key aspect of return characteristics. Diversification.6:20 - impact on flows, rising numbers.7:24 - growth in allocations from private wealth channels.11:07 - continued growth in trading volumes, payments.13: 30 - increased use of SMA structures this decade.*Not investment advice. Past performance is no guarantee of future returns*This podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Use the code PODCAST10 for a 10% discount on AFI Intelligence (first year, new subscribers only). Group discounts available for corporates: Ask Will or email commercial@alternativefundinsight.com for more details!You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All ratings and feedback welcome!Follow the latest developments via our LinkedIn page. Sign up to free AFI bulletins. Get a free weekly multi-strategy update.In this episode, Will interviews Declan Quilligan, head of hedge fund services at Citco, to review industry trends in May and explore technology priorities for the sector at the midyear mark. Find topics by timestamp below:2:00 - May was a significant month of new allocations to hedge funds - the key numbers.3:25 - Multi-strategy still proving a major magnet, equity and hybrid also popular.6:35 - Performance in May was strong - the key drivers?9:11 - Thoughts on technological priorities, middle and back office efficiencies.12:08 - What is the impact of AI here?15:00 - Pace of change is only accelerating.*Not investment advice. Past performance is no guarantee of future returns*This podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Use the code PODCAST10 for a 10% discount on AFI Intelligence (first year, new subscribers only). Group discounts available for corporates: Ask Will or email commercial@alternativefundinsight.com for more details!You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All ratings and feedback welcome!Follow the latest developments via our LinkedIn page. Sign up to free AFI bulletins. Get a free weekly multi-strategy update.In this episode, Will interviews Jack Inglis, CEO of AIMA, for a discussion of the key trends and regulatory changes affecting the hedge fund industry outlook. Find topics by timestamp below:1:20 - JI's take on the hedge fund outlook midway through 2025 - performance and flows.4:45 - Could a hedge fund boom be on the cards?8:37 - Key industry mega-trends: rise of multi-strats, AI, SMAs usage, portable alpha.12:30 - Thoughts on ongoing fees debate.15:25 - Change in US regulatory environment.20:00 - How that changed US attitude has impacted priorities beyond the US.24:45 - Thoughts on Dubai, Abu Dhabi and other global hubs.29:10 - Rapid pace of change in the sector.31:00 - Future of private credit sector.36:30 - Future of crypto/digital assets.39: 32 - Closing words on priorities this year for AIMA.*Not investment advice. Past performance is no guarantee of future returns*This podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Use the code PODCAST10 for a 10% discount on AFI Intelligence (first year, new subscribers only). Group discounts available for corporates: Ask Will or email commercial@alternativefundinsight.com for more details!You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All ratings and feedback welcome!Follow the latest developments via our LinkedIn page. Sign up to free AFI bulletins. Get a free weekly multi-strategy update.In this episode, the tables are turned as host Will is interviewed by Bill McIntosh of Peregrine Communications about the AFI 500 research ranking. Bill is an experienced communications professional with a background in financial journalism and hedge funds. He kindly invited Will to discuss the research on Peregrine's Marketing Leaders podcast, which you can find here. AFI is republishing the interview to serve as an introduction to the AFI 500. Head to www.peregrinecommunications.com for more information about the firm.Members can find the research here: https://alternativefundinsight.com/afi-500-global-hedge-fund-ranking-2025/Non-members can view a free introduction here: https://alternativefundinsight.com/introducing-the-afi-500-global-hedge-fund-ranking/*Not investment advice. Past performance is no guarantee of future returns*This podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Use the code PODCAST10 for a 10% discount on AFI Intelligence (first year, new subscribers only). Group discounts available for corporates: Ask Will or email commercial@alternativefundinsight.com for more details!You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All ratings and feedback welcome!Follow the latest developments via our LinkedIn page. Sign up to free AFI bulletins. Get a free weekly multi-strategy update.This week on the AFI podcast, Will is joined by Declan Quilligan, Head of Hedge Fund Services at Citco, to discuss industry trends in April based on the firm's latest monthly research.April was characterised by high market volatility, mainly driven by US trade war policy after President Trump's 2 April announcement on tariffs. Hedge funds navigated the volatility to deliver an average monthly gain of 0.9% on a fund weighted basis, per Citco data, and industry inflows continued.On the agenda: key insights on hedge fund strategy performance, flows, treasury payments and trade volumes during a rollercoaster month. Find topics by time-stamp and listen links below. Find the full Citco report here and AFI's coverage here.1:42 - Industry performance headlines in April.5:00 - Positive in turbulent month - downside protection fulfilled. Diversification is key.7:00 - Overview by strategy.7.30 - Focus on multi-strategy. Strong risk management.8.35 - Focus on inflows into hedge funds, key themes.9.48 - European funds have highest inflows on regional basis.11:10 - Another increase in trading volumes amidst the volatility.12:24 - Treasury payments also remain elevated.14:00 - Big picture view on performance trends.Episode recorded on 21 May 2025.*Not investment advice. Past performance is no guarantee of future returns*This podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Use the code PODCAST10 for a 10% discount on AFI Intelligence (first year, new subscribers only). Group discounts available for corporates: Ask Will or email commercial@alternativefundinsight.com for more details!You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All ratings and feedback welcome!Follow the latest developments via our LinkedIn page. Sign up to free AFI bulletins. Get a free weekly multi-strategy update.This week on the AFI podcast, Will is joined by Declan Quilligan, Head of Hedge Fund Services at Citco, to discuss industry trends in Q1 based on the firm's latest quarterly research.The first quarter was anything but quiet, comprising the start of the Trump presidency in the US, the emergence of the Deep-Seek AI model, an unprecedented German fiscal package and growing speculation over US trade policy ahead of the early April announcement on tariffs.On the agenda: key insights on hedge fund strategy performance, flows, treasury payments and trade volumes. Find topics by time-stamp and listen links below. Find the full Citco report here and AFI's coverage here.1:36 - Introduction to interview and Q1 overview.2:11 - DQ gives key headlines on hedge fund performance in Q1; Tenth successive quarter of gains for sector.4:45 - Zeroing in on multi-strategy - further strength in Q1, continuing recent trends.7:30 - Exploration of scale.8:21 - $7.1bn of net inflows in Q1, about half of which in multi-strategy.10:55 - Ability of hedge funds to protect capital in volatile times.12:08 - High levels of Treasury Payments in Q1, big y/o/y growth.14:25 - Also very high trading volumes, volatile Q1 sees two of busiest months on record.16:34 - Importance of hedge fund return profile in market turbulence.Episode recorded on 6 May 2025.*Not investment advice. Past performance is no guarantee of future returns*This podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information. Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Use the code PODCAST10 for a 10% discount on AFI Intelligence (first year, new subscribers only). Group discounts available for corporates: https://alternativefundinsight.com/membership-options/ Ask Will or email commercial@alternativefundinsight.com for more details!Discover the 25 most influential global hedge fund allocators: https://alternativefundinsight.com/power25-hedge-fund-allocator-ranking-2024/You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the AFI website: www.alternativefundinsight.com.Follow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightSign up to free AFI bulletins: https://alternativefundinsight.com/newsletter-sign-up/Get a free weekly multi-strategy update: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7287811820046696448This week on the AFI podcast, Will is joined by Edward Blad, founder of the Independent Research Forum (IRF) in London, which connects hedge funds and other investors with top quality research providers. IRF has been a supporter of AFI since the first episode and we are pleased to give a spotlight to the business today. Please find a timing guide to the episode below and head to https://irf.uk/ to explore the IRF business or contact Edward at edward@irf.uk or LinkedIn.Release date: 24 April 2025 (recorded on 16 April 2025)1:50 - Introduction to Edward Blad and the IRF.2:20 - Scale and strategy range of providers on offer.3:27 - Global nature of business.4:55 - Different asset classes and how it has changed over time.7:40 - Growing use of macro providers in current market volatility.10:00 - Importance of in-person research and meetings.10:55 - Impact of recent weeks on research inbox.11:25 - How can hedge funds use the platform?13:12 - Changes to independent research over the years.15:35 - Future of the space. Example of Wolfgang Munchau’s offering, EuroIntelligence.17:00 - How to follow IRF. *Not investment advice. Past performance is no guarantee of future returns* Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Use the code PODCAST10 for a 10% discount on AFI Intelligence (first year, new subscribers only). Group discounts available for corporates: https://alternativefundinsight.com/membership-options/ Ask Will or email commercial@alternativefundinsight.com for more details!Donald Pepper, co-CEO and head of multi-strategy at Trium Capital, takes listeners inside the growth of the London firm, which has doubled assets to $3bn in the past 18 months, on the latest AFI podcast.Discover the 25 most influential global hedge fund allocators: https://alternativefundinsight.com/power25-hedge-fund-allocator-ranking-2024/You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the AFI website: www.alternativefundinsight.com.Follow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightSign up to free AFI bulletins: https://alternativefundinsight.com/newsletter-sign-up/Get a free weekly multi-strategy update: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7287811820046696448Release date: 13 April 2025 (recorded on 8 April 2025)1:50 - Introduction to Donald Pepper's career background and Trium Capital.3:55 - His take on the industry outlook in 2025 and the role of hedge funds in a portfolio.5:37 - Recent industry performance drivers and market volatility.7:47 - Zooming in on multi-strategy - Trium's approach, and how it finds and partners with trading talent. Key differences with pod-shops.14:00 - Why he sees simplicity in the multi-strategy model.16:27 - Appeal and significance of the Ucits offering.20:00 - Increased use of dedicated managed accounts.23:12 - Pepper's view of the future evolution of the hedge fund space.25:57 - Perspective on private markets.27:54 - Global nature of hedge fund industry - his take.30:44 - Focus on growth and attracting talented PMs to further grow the business.*Not investment advice. Past performance is no guarantee of future returns* Hosted on Acast. See acast.com/privacy for more information.

Get 360-degree insights and agenda-setting research into hedge funds and multi-strategy with AFI membership. Use the code PODCAST10 for a 10% discount on AFI Intelligence (first year, new subscribers only). Group discounts available for corporates: https://alternativefundinsight.com/membership-options/ Ask Will or email commercial@alternativefundinsight.com for more details!Doc Horn, hedge fund industry veteran and head of the $7bn Total Return equities unit at Pictet Asset Management, joins episode 33 of the AFI podcast. He discusses the outlook in equity strategies, allocator trends and how Pictet stands out with a different approach in the multi-strategy segment. Its main product marked 20 years in business last year. See show notes.Discover the 25 most influential global hedge fund allocators: https://alternativefundinsight.com/power25-hedge-fund-allocator-ranking-2024/You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the AFI website: www.alternativefundinsight.com.Follow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightSign up to free AFI bulletins: https://alternativefundinsight.com/newsletter-sign-up/Get a free weekly multi-strategy update: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7287811820046696448Release date: 26 February 2025 (recorded on 28 January 2025)2:00 - Introduction to Doc Horn's role as head of the $7bn Total Return equities business at Pictet Asset Management. Focused on low-net relative value opportunities for almost 20 years.4:00 - Pictet's flagship is the multi-strategy fund which marked 20-year anniversary last year.5:30 - Common DNA running through the TR equities unit. Multi-strategy fund serves as proving ground for a range of strategies.7:00 - Reviewing key hedge fund performance trends in 2024.9:15 - Key performance drivers in 2025.11:00 - Event-driven opportunities.15:00 - How best to profit against the macro volatility backdrop in the age of Trump?18:45 - Interest from private wealth channels in hedge.20:00 - How does Pictet differentiate itself in the competitive multi-strategy market.23:30 - What about the talent side of multi-strat?27:00 - Pictet's model and appeal to traders and allocators. *Not investment advice. Past performance is no guarantee of future returns* Hosted on Acast. See acast.com/privacy for more information.

Political turbulence and macroeconomic volatility make it a great environment for active fixed-income investors, says Mark Dowding, CIO of RBC BlueBay's $130bn fixed-income unit. Joining episode 32 of the AFI podcast, Dowding explains why relative value investing is well suited to the volatility and dissects the implications of Trump's second term for markets and macroeconomics.It is a fascinating insight into his trading approach, particularly how political research informs his trades, and outlook across different asset classes in 2025, more than three decades after he started his career in 1993. See topics and listen links below.See show notes and bios below.Discover the 25 most influential global hedge fund allocators: https://alternativefundinsight.com/power25-hedge-fund-allocator-ranking-2024/You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the AFI website: www.alternativefundinsight.com.Follow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightSign up to free AFI bulletins: https://alternativefundinsight.com/newsletter-sign-up/Get a 360-degree insights and research into hedge funds and multi-strategy with AFI membership. Group discounts available for corporates: https://alternativefundinsight.com/membership-options/ Ask Will or email commercial@alternativefundinsight.com for more details.Release date: 5 February 2025 (recorded on 23 January 2025)1:45 - Introduction to Dowding's role as CIO at $130bn fixed-income unit. Global macro background, started career in 1993.3:48 - MD's big-picture view, starting with strength of US economy. Fed rates on hold for time being. Views on inflation, dollar. FX creating more opportunity than rates.7:46 - Trump volatility leading to opportunity. Maradona analogy.10:12 - Do investors now understand Trump behaviour more now, which will help trading decisions.11:50 - Thoughts on tariff agenda and possible inflationary impact. FX changes bearing brunt.15:37 - How political meetings inform the approach. His certainty from US visits prior to election that Trump would win.19:40 - Thoughts on Europe and UK. 26:54 - Relative value opportunities increasing amid the volatility. Thoughts on Japan.29:00 - Thoughts on asset allocation trends.33:50 - Thoughts on multi-strategy fees.36:50 - Alpha on offer from active fixed-income. Passive approaches leaving alpha on the table.*Not investment advice. Past performance is no guarantee of future returns* Hosted on Acast. See acast.com/privacy for more information.

In a special episode recorded at the start of 2025, AFI founder and podcast host Will Wainewright is joined by Richard Quigley and Jon Caplis, industry leaders from Goldman Sachs Asset Management and PivotalPath, to review hedge fund performance and look ahead to key trends in asset allocation, launches and other key areas which will shape 2025. See show notes and bios below.Discover the 25 most influential global hedge fund allocators: https://alternativefundinsight.com/power25-hedge-fund-allocator-ranking-2024/You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the AFI website: www.alternativefundinsight.com.Follow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightSign up to free AFI bulletins: https://alternativefundinsight.com/newsletter-sign-up/Get a 360-degree insights and research into hedge funds and multi-strategy with AFI membership. Group discounts available for corporates: https://alternativefundinsight.com/membership-options/Release date: 23 January 2025 (recorded on 15 January 2025)2:43 - RQ's positive longer-term view on hedge fund performance.5:08 - JC's overview of hedge fund performance in 2024.9:47 - JC on strong "high-quality" launch environment.12:41 - RQ says GSAM continues to be very active in launch market, "exciting" outlook particularly in last year or two.16:40 - RQ on renaissance in managed account use.18:07 - RQ on multi-manager dominance and its implications.20:32 - JC on multi-PMs' huge influence now, impact on so many industry trends.23:38 - RQ on asset allocation trends, sentiment26:10 - More value now attached to liquidity, says JC.27:14 - RQ warnings on capacity, complexity and fees.29:00 - JC on importance of accurate benchmarking.33:35 - RQ agrees, points out the difference between returns is alpha, an incredibly important dimension.34:42 - Customisation trend makes it even more crucial to get benchmarking right, says JC.35:43 - 2025 key trends. RQ says higher flows.37:48 - JC sees consolidation ahead in 2025.BIOs:Richard Quigley is global head leading the hedge fund client business at Goldman Sachs Asset Management, responsible for all business dimensions of its $27bn hedge fund strategies platform. He is also co-chair of the Portfolio Construction Investment Committee and lead portfolio manager for its largest strategic partnerships.Jon Caplis is founder and CEO at PivotalPath, responsible for strategy and overseeing all aspects of the firm’s operations. PivotalPath is a leading hedge fund research firm, which provides institutional investors with over $400bn in combined hedge fund investments with valuable insights and necessary tools for informed investment decisions.*Not investment advice. Past performance is no guarantee of future returns* Hosted on Acast. See acast.com/privacy for more information.

Discover the 25 most influential global hedge fund allocators: https://alternativefundinsight.com/power25-hedge-fund-allocator-ranking-2024/In episode 6 of the second series of the AFI podcast, host Will Wainewright is joined by Christian Dery, head of macro strategy at CFM, the Paris-based firm - one of the ten largest quantitative hedge fund managers in the world: https://alternativefundinsight.com/power-list-quant-hedge-fund-top-10-in-2024/You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the AFI website: www.alternativefundinsight.com.Follow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightRelease date: 19 January 2025 (recorded on 9 January 2025)*No part of this audio constitutes investment advice. Past performance does not guarantee future returns*1:50 - Introduction to CFM and Dery's career background6:20 - How his macro role works with quant engine of firm7:58 - His macro outlook - and why all roads lead to fiscal in 202510:37 - Will the Trump-induced market changes last? Dery discusses the sequencing. The tariffs will be a substitute for tax cuts.18:40 - Importance of following Musk actions - how different does that make it for macro watchers?21:45 - Alternative data a big driver for their firm.24:27 - How tariffs will drive opportunities in different asset classes.29:57 - Will Trump changes lead to an inflation comeback this year?32:07 - Will Musk's DOGE counter the inflationary impact? Could Europe learn from some of tactics in the years ahead?36:04 - What about Argentina's Milei, lessons for Europe?39:50 - Bond investors limiting wiggle room, e.g. in UK?41:26 - Equity market outlook.45:57 - Practical use cases of how the macro feeds CFM trading. Hosted on Acast. See acast.com/privacy for more information.

Discover the 25 most influential global hedge fund allocators: https://alternativefundinsight.com/power25-hedge-fund-allocator-ranking-2024/In episode 5 of the second series of the AFI podcast, host Will Wainewright is joined by Sina Toussi, founder and CIO at US event-driven manager Two Seas Capital, which trades on legal and regulatory catalysts. See topics covered in the notes at the bottom of this section.You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the AFI website: www.alternativefundinsight.com. More on Two Seas Capital: https://twoseascap.com/Follow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightRelease date: 5 January 2024 (recorded on 9 December 2024)*No part of this audio constitutes investment advice. Past performance does not guarantee future returns*1:49 - Introduction to Two Seas Capital, background on Toussi's career and strategy5:55 - Update on location, AuM, strategy at Two Seas (just passed $1bn)7:28 - Trading priorities for next year (most fertile territory in commercial litigations, esp. biotech sector)12.12 - Breaking down the strategy simply. Example of Esperion Therapeutics.17:25 - How do you handle the uncertainty associated with these cases? 20.50 - How the firm uses FOIAs in its research process.23.46 - Approach in UK.27.13 - Thoughts on Argentina under Milei.31.42 - Impact of Trump's second term.34.19 - Advice on building a firm/to young people entering the industry. Hosted on Acast. See acast.com/privacy for more information.