IN PURSUIT OF ALPHA
Generating consistent Alpha for investors is the first rule for any investment manager. Both intrinsically, by directly applying certain strategies, and indirectly, by diversifying with assets that are either lesser known or have a low market correlation. Achieving Alpha requires new ideas.
Generating consistent Alpha for investors is the first rule for any investment manager.
“In pursuit of Alpha” is a recurring phrase in the day-to-day activity of our sector. Alpha is sought by fund managers and client portfolio managers. The means are different but very similar. Whereas the former seeks to attain Alpha via different investment methodologies and processes, always using assets directly, the latter apply methodologies and processes of a mixed nature: they use direct assets and/or investment funds to access markets that are hard to access or which offer little information on their assets, or else because the fund manager is able to consistently extract an interest Alpha via his/her methodology and/or process.
At Selinca AV we want fund and portfolio managers that watch over the financial health of their clients, who take advantage of ideas and who either manage to generate Alpha intrinsically, or else generate Alpha in the portfolios and funds they manage by using assets that have a low correlation with other more usual ones.
Strategies that generate Alpha intrinsically:
- European equities with Long-only and Long/Short, ESG strategies
- Global equities with Long-Only strategies, sectorial, quantitative management, concentrated portfolios
- Emerging Fixed Income, both corporate and unconstrained
- European and US Fixed Income, both short and long term
- Fixed Income with ESG criteria
Alpha is generated in portfolios by diversifying into niche assets.
- US Subordinated Debt
- Asia Equity
- Commodities: Precious Metals
- Alternative funds in illiquid strategies
At Selinca AV we believe that the generation of alpha by active managers is still possible, but it requires a complex combination of talent, investment process, adequate structure, absence of perverse incentives as well as a favorable environment (beyond the manager’s control) for the stock selection and/or the fund selection that best suits in terms of risk and return to the needs of each portfolio.
THE EXPERTS’ OPINION
More than a decade committed to our clients and their goals.
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