Alternatives

“If it's for a very young person, it's okay to have 80, 9000% alternatives, because they don't need the cash immediately. So let the stuff grow, you know, at the highest risk possible.”

“That market is actually bigger. The individual market is actually bigger than the institutional market today. And it has almost zero penetrations from alternatives.”

“Some institutions have long used alternatives, some too much, and they've had to borrow against some of those holdings recently to meet liabilities.”

“Alternatives aren't better than traditional investments. They're different. They bring different trade-offs in liquidity and fees and complexity”

“The demand from private wealth will be the fastest growing source of capital into alternatives for the foreseeable future.”

“At some point, alternatives are no longer going to be an alternative. And they're like mainstream. And when that happens, it means it will be harder to generate outsized returns. That's what worries me. I think about that in terms of influx of wealth capital. …”

“One is you can have these asset managers use their existing target date funds and add alternatives to them. I personally think that's highly unlikely, and as a matter of fact, as you talk in the industry, it's pretty apparent that that's not the avenue.”

“I think it's one percent of the 192 trillion are invested in alternatives. If that only goes To five percent you suddenly have 10 trillion dollars.”

“Every one percent asset allocation shift would equate to approximately five hundred billion dollars of new investments.”

“We run a family office report. We started it a couple years ago where we go to the top 200 families. About 25% of it was in pure equities. 46% of it was in alternatives. And the remainder, about just over 20%, was in fixed income. Started the family office sid…”

“If you look across our broad client base, a lot of clients were sixty-forty, 60 equities, 40 fixed income. Across the board, it's probably now changing to maybe 45% equities, 15% in alternatives, and the remainder still like fixed income and where you put priv…”

“Every one percent asset allocation shift would equate to approximately five hundred billion dollars of new investments.”

“The next chapter of growth for the industry, I think is going to be alternatives. And I think we are in the early innings of that beginning to happen right now.”

“If you look at the most democratizing investment vehicle that is likely ever to exist, it's going to be ETFs, and so the marriage of those two isn't a huge leap of faith, I don't think.”

“So we have 11% of our portfolio in hedge funds, and that's in addition, by the way, to that 38% of private, so total alternatives is 49%, which again is quite high for a public pension, but quite low versus the endowment community.”

“Linda Strumpf was the CEO of the Ford Foundation at the time, and she did not believe in alternatives at all. And she felt like anything that you can do in the private markets, you could do in the public markets without giving up liquidity.”

“The SEC is also gradually coming towards being a little more flexible on Private fund allocation and registered fund allocation for alternatives.”

“If you exclude the very sophisticated wealth management firms that know alts well, many allocations to alts right now are first-time advisors putting money to work in alternatives.”

“If I had to put this under one big banner, the big banner I would probably select is they fail to consider alternatives.”

“That said, probably the biggest bang for the buck is in alternatives. It's probably in illiquid asset classes. It's in people who think differently about venture or private equity and Even probably real estate on some level.”

“We realized that we could do alternatives well and differentiate performance, but conversely in equities we didn't, and so, so we outsource equities.”

“So we eliminated hedge funds from the vocabulary, and we eliminated alternatives from the, we don't talk about alternatives or hedge funds. We talk about equities, credit, inflation-linked things, etc.”