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PerTrac wrote a new blog post titled The Risk Assessment Spectrum: A Critical Tool for Investors Pt2
The ‘basic bucket’ explained Let’s focus on the ‘basic bucket’ and look at each individual measurement. When we are talking about deviation type statistics, a common one is Standard Deviation.  Basically, you are measuring the variation of your returns around a mean – how spread out are your returns? Do they tend to be around the mean? Or are they all over the place or piled on either end of the spectrum?  The problem with this is that if you try to use it as a risk statistic, you have to have some standard deviation to make money and you can’t just judge an investment based on say, a higher...
2460 days ago
PerTrac wrote a new blog post titled The Risk Assessment Spectrum: A Critical Tool for Investors Pt1
To what degree do you consider risk when making investment allocations? Identifying portfolio risk adequately and efficiently is a common talking point among investors.  Investors often get hung-up over the complexity of portfolio risk management, by overestimating the resources it requires and the costs involved. In this series of blog posts, we will explore what we define as the ‘risk spectrum’ by focusing on portfolio risk management in order to help you better understand the different analytics available for use within your risk management processes.  Risk can mean a host of different...
2490 days ago
PerTrac wrote a new blog post titled PerTrac Joins The eVestment Family
By now you have probably heard the great news that PerTrac has been acquired by eVestment.  We are very excited about this outcome – and very pleased to be working more closely with a company with whom we have enjoyed a great partnership previously.  In addition, eVestment announced the acquisition of Fundspire today.  Incredible!  This brings together three of the premier technology brands in our industry.  Together, we will offer the most complete portfolio of solutions in the market.  This really is great news for us, our clients and the industry as a whole.  By combining PerTrac’s...
2497 days ago
PerTrac wrote a new blog post titled Hedge Fund Exceptionalism In A Year When Red Was The Standard
Last year was tough for hedge funds. Put simply, 2011 was the second worst performance year on record for the average hedge fund since 1996.  Though the average hedge fund suffered substantial losses in 2008, the case could be made that it actually hedged, since it fared better than most major market indices. But while some key market indices ended 2011 flat or in slightly positive territory, the average hedge fund finished the year down. Pundits were questioning what value a fee-charging manager that underperforms the market could possibly bring to a client. Stories in the press told of huge...
2498 days ago
PerTrac wrote a new blog post titled The Bigger They Are, The Less They(’ve) Fall(en)
The popular idiom, the bigger they are, the harder they fall, doesn’t always manifest itself in the hedge fund space. PerTrac’s Impact of Size and Age on Hedge Fund Performance: 1996 – 2011 study, finds that large hedge funds show the best stamina when performance across the industry is down. In what became only the second year in which hedge funds of all sizes finished in the red since 1996—the first year being 2008—the average large fund again outperformed its peers in 2011. While last year’s annual returns for all three hedge fund size categories were negative, the average large fund...
2526 days ago
PerTrac wrote a new blog post titled The United States and Europe Hold a Monopoly on the World’s Largest Funds
  he United States, the birthplace of hedge funds, and Europe, the birthplace of funds of hedge funds (FoHFs), collectively housed more than 91% of the management companies of the world’s biggest hedge funds and over 93% of the globe’s largestFoHFs at the end of the first half of 2012.  A small contingent of 413 billion-dollar-plus hedge funds and FoHFs—less than 3% of 14,013 funds reporting information—were responsible for managing a leviathan sum of $1.353 trillion, or nearly 60 cents of every reported dollar within the industry. And nine out of ten of these funds’ management companies were...
2546 days ago
PerTrac wrote a new blog post titled Infographic:Illuminating the World of Hedge Funds
Untitled Document The hedge fund industry has been undergoing rapid change. From new regulatory requirements like Form PF to newfound abilities to advertise offered by the JOBS Act, the pace of change is only accelerating. These changes not only bring needed transparency to the industry, but they also raise the profile of hedge funds among investors and non-investors alike. With advertising looming ahead, there’s little doubt that the profile of hedge funds will rise further.  With this in mind, PerTrac has decided to put together an infographic highlighting: -          Key industry...
2560 days ago
PerTrac wrote a new blog post titled Hedge Funds Are Off To A Healthy Start In The First Half of 2012
  Hedge funds bolstered their ranks and coffers in the first half of 2012, shrugging off tumultuous trading environments stemming from geopolitical uncertainty. Reported assets under management (AUM) of single-manager hedge funds rose to $1.892 trillion at the end of first half 2012, a 5.23% increase since year-end 2011. The number of single-manager hedge funds reporting information increased by 7.46% in the same time period, to a total of 10,754 funds.    Funds of hedge funds (FoHFs), however, were not as fortunate in the first six months of 2012. The reported AUM of FoHFs ebbed by 4.92% to...
2574 days ago
PerTrac wrote a new blog post titled Volatility Is Up In The First Half Of 2012, Not Necessarily A Bad Thing
Volatility is up by as much as 5.61 points in the first half of 2012 across major world markets, driven by uncertainty arising from the Euro-zone debt crisis, slowing economies in emerging markets, as well as the rising tide of pending regulations and the presidential election in the United States. Markets in the East are showing the greatest volatility in the first half of 2012 and have had experienced the largest point increases in volatility relative to the first half of 2011: Hong Kong’s Hang Seng Index increased by 5.61 points, Japan’s TOPIX TR by 3.90 points and its Nikkei 225 by 3.59...
2602 days ago
PerTrac wrote a new blog post titled Which Horse to Bet On: The Advantages of Allocating to Large Funds
Which Horse to Bet On: The Advantages of Allocating to Large Funds Much has been written and discussed about the advantages of small hedge funds, including PerTrac’s own study that shows smaller funds outperform larger ones.  Nimble and able to fly under the radar, small funds can traverse markets undetected.  Their modest size fuels a hunger to generate returns so that they can earn a performance fee to augment their basic management fee which, by itself, may not provide an adequate paycheck.  But what happens when markets sink?  While the returns of larger hedge funds may not be as robust...
2636 days ago
PerTrac wrote a new blog post titled The U.S. May Have Invented Hedge Funds, But They Now Belong to the World
The U.S. May Have Invented Hedge Funds, But They Now Belong to the World More than 70% of hedge funds and funds of hedge funds are now domiciled outside the U.S., according to our analysis. In terms of assets under management (AUM), the U.S. is home to only about 20% of the world’s $1 billion-plus hedge funds and funds of hedge funds.  Domiciles of Single-Manager Hedge Funds and Funds of Hedge Funds by AUM Size in 2011   More than 70% of hedge funds and funds of hedge funds are now domiciled outside the U.S., according to our analysis. In terms of assets under management (AUM), the U.S. is...
2651 days ago
PerTrac wrote a new blog post titled Largest Funds Power Through 2011
Largest Funds Power Through 2011  The alternative investment landscape became bigger, broader and bulkier in 2011. It became bigger because the total reported assets under management (AUM) of single-manager hedge funds and funds of hedge funds (FoHFs) increased by 3.37% from the previous year to a total of $2.245 trillion; broader because the total number of funds reporting increased to 13,395 (3.73% year-over-year growth); and bulkier because the reported number of billion-dollar-plus hedge funds and FoHFs expanded in rank.   “Sizing the 2011 Hedge Fund Universe: A PerTrac Study,” now in its...
2686 days ago
PerTrac wrote a new blog post titled Bringing Daily Data (and the Cloud) to PerTrac Analytics
We are excited to announce the latest release of PerTrac Analytics (7.2.2) which includes a greatly enhanced, cloud-based data distribution process for our clients. The initial catalyst for this change was multiple client requests for daily mutual fund performance  data feeds.  As anyone involved in the analytics space knows, the demands placed on analytical systems by daily data are more than 20x greater than monthly data.  Daily database files are extremely large and require new processes for conversion, storage, speed and scalability.  The result is a new, cloud-based data distribution...
2749 days ago
PerTrac wrote a new blog post titled Buoyant January
Buoyant January, fabulous first week of February…will the alternative beat go on?   European hedge fund stars profit in buoyant January  
2781 days ago
PerTrac wrote a new blog post titled Instant-History Bias
It is perhaps time to admit that eliminating the instant-history bias is arguably as much an art as it is a science Instant-history bias occurs when funds decide to incubate (i.e., develop a track record) for some time before openly reporting their returns to industry databases. When funds do decide to report, they report their complete history since inception, thus resulting in an ‘instant-history.’ The bias comes into existence because only funds that have a solid track record will decide to report results to databases, whereas funds that have undergone a poor performance run are likely to...
2824 days ago
PerTrac wrote a new blog post titled A New Non-Normal World
Expectations for all of us to produce solid returns are high these days and many pension plans and endowments are craving 7.5% performance returns at a minimum in order to cover their liabilities. We are all painfully aware that much is on the line these days as the beneficiaries of these return dollars are our parents and our children. And if we fall short then it will be our children who will carry the burden of our inadequacy.  It is tough to find solid performance returns, especially today’s volatile environment – it’s both an art and a science.  Like the Pilgrims, we do not know what...
2854 days ago
PerTrac wrote a new blog post titled Does the Seasonal Performance Anomaly know as ‘’Sell in May and Go Away” Apply to Hedge Funds?
There is an old, rather pessimistic adage around stock exchanges that goes, “Sell in May and go away.” This proverb forewarns investors to get out of the markets before summer begins. Why? Because equity performance will suffer in the next few months; because the next few months will be filled with vacation goers whose investing segment will empty their portfolios of stocks in order to achieve a more carefree summertime experience. “But remember to come back in September,” goes the popular British clincher to the saying. In the US, however, the end of October is more fitting because it...
2894 days ago
PerTrac wrote a new blog post titled If Being Small Is Such A Return Advantage, Why Don't Small Funds Attract More Capital?
  The following chart shows that while small funds produce a higher return regardless of their age, age does not seem to help them increase their AUM. Is the answer that they are simply too small at under $100 million for institutional investors to allocate to them.  Or, are institutional investors following the big legend myth – “big is always better when it comes to funds”?  Small funds survive but they don't appear to attract as much capital as you would expect over time. Should we be thinking about this size category differently?  Tell us your thoughts in the comments. Since publishing...
2902 days ago
PerTrac wrote a new blog post titled The Hedge Fund Advantage: Young and Nimble
America is a culture that idolizes our youth. We attribute many advantages to being young, especially  health. But, we don't idolize those that are young in the hedge fund industry. We equate them to adolescents. Like our teenagers they must be learning,  assuming more risk, cost more, and return less. Right? Perhaps not. Youth in Hedge Funds appears to be a positive attribute, providing the highest performance returns and surprisingly the lowest risk.  It seems that  wealth in the hedge fund industry as measured by performance returns goes to the young as well. Yes, they are mostly small in...
2905 days ago
PerTrac wrote a new blog post titled Welcome to the PerTrac Blog
Today, we are pleased to announce the launch of the PerTrac Blog.  We’ll be using the blog as a vehicle to interact with our customers as well as the larger community of investment professionals.  On the PerTrac Blog, you will be able to read about our latest research and insights, you will hear our opinions on the market, and you’ll be able to voice your opinions back.  You will have the opportunity to engage with our product team and learn about the ways we are innovating in the investment management space. We’re excited about what lies ahead and welcome you along for the journey.
2905 days ago