Trends in Alternative Asset Management Andrew McCollum Principal, Greenwich Associates May 2, 2012.

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Presentation transcript:

Trends in Alternative Asset Management Andrew McCollum Principal, Greenwich Associates May 2, 2012

Funding gaps remain a problem for U.S. corporations and public funds. 1 CONFIDENTIAL Source: Greenwich Associates 2011, U.S. IMF-11. Mean calculation excludes reported answers of "0" and / or "None". U.S. Corporate Funds’ Average Funding Ratio of DB PlansU.S. Public Funds’ Average Solvency Ratio of DB Plans 7.6% actuarial assumption

2 CONFIDENTIAL Allocations have changed significantly over the past ten years, with allocations to alternatives up dramatically. Corporate DB Public DB Endowment/ Foundation Source: Greenwich Associates, 2011.

Allocations to alternative asset categories is expected to increase further in the years ahead. 3 CONFIDENTIAL U.S. Investors’ 3-Year Institutional Asset Allocation Expectations Source: Greenwich Associates 2011, U.S. IMF-11. Note: Three year outlook. “No Change” column indicates number of U.S. investors with no allocation changes planned for a given asset class. Results are for corporate and union fund defined benefit plan assets, public fund defined benefit plan assets, and endowment and foundation fund investment pool assets. No Change

4 CONFIDENTIAL Most Important Hedge Fund Selection CriteriaTop Hedge Fund Strategies Currently Employed, by Assets Source: SEI/Greenwich Associates Hedge Fund White Paper To meet with success in the institutional market, firms must align products, business model, and communications with client needs.

5 CONFIDENTIAL Key Takeaways ▪Evolving client needs will drive further demand for alternatives products. ▪Alternatives managers will face increasing competition (and vice versa) from traditional long-only managers. ▪Increased competition will “institutionalize” the alternatives industry, impacting business models, client servicing, communications, operations, and fees, among other areas. ▪Alternatives firms must evolve to meet this shifting landscape. ▪The alternatives industry will require talented – and qualified – individuals to address these challenges.