The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 8 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Jackson: Multi-strategy pod shop investors keep only ~45% of gross returns
“We've seen the pass-through cost structure eat away at investor returns, so now I think on average the end investor is keeping around maybe 45% of the gross return”
Jackson: Next credit cycle will be drawn out rather than a sudden bust
“I think the one difference about this may be relative to past credit bust, if you will, is we don't think there'll be a big moment of bust and a de-leveraging. To us, this might be a more long drawn out period where we can produce maybe more than equity-like r…”
Jackson: Mercer includes 80 sub-$2B and over 24 sub-$500M hedge funds
“Roughly 80 of those are sub two billion in AUM today on that list. A little more than two dozen of those, I think, are below five hundred million in AUM.”
Mercer: Credit and macro are the most exciting hedge fund areas moving forward
“I think credit and macro are the two areas that we are most excited about moving forward.”
Jackson: Cross-asset volatility will remain elevated for 3 to 5 years
“And then macro, we just think volatility really across everything is going to stay elevated. So across equity markets, across credit markets, across interest rates, across commodities. And we think macro, both systematic and discretionary, are probably the bes…”
Jackson: Mercer's 35-person hedge fund team conducts over 800 annual meetings
“There's 35 members on the hedge fund team across the globe, US, Europe, Asia. On average, we take in excess of over 800 meetings a year. Roughly a third of those is spent on new opportunities or new ideas that are coming to market.”