The Progression of ABN Amro Private Banking’s Hedge Fund OfferingsThe article below is an overview on Marc de Kloe, Head of Alternatives Investments and Funds at ABN Amro Private Banking, talking about banking’s hedge fund offerings, growing the hedge fund exposure tenfold to $3 billion, with more to go.
For Marc, hedge funds are not a magic bullet, but a menu of options for dedicated problems. He also explains what fund managers and promoters can do to help private banks to better sell alternatives.
First, fund promoters need to understand thatoffshore is passé: With AIFMD, offshore hedge funds can’t be sold any more to non professional clients, which includes private banks and most family offices. Therefore, the private banks’ preferred vehicles are managed accounts, funds of managed accounts, UCITS, and AIFs. The transparency those vehicles provide allows for stress tests, which turns out to be an extremely powerful huge sales argument.Source: ValueWalk