Christoph Manser is Global Head of Hedge Funds Activities and Member of the Executive Committee at AXA Investment Managers (AXA IM). Manser, an institutional hedge fund investor, says the trend to allocate more to alternatives is still intact, as hedge funds and hedge fund of funds improve risk-return and help control betas.
However, the institutions' approach to risk management and process has changed since 2008. In this Opalesque.TV BACKSTAGE video, Manser continues to explain:
* How institutions use hedge funds to control and not to avoid beta
* Institutional investors want "stability of returns" - but what volatility is acceptable?
* Aiming at higher returns at less risk: Why AXA & other institutions invest in hedge funds year after year
* Selection criteria: How institutions select hedge funds
* The size issue: when are large hedge funds too large, and small ones too small?
* How to cope with the current market volatility and downside risk
AXA Investment Managers (AXA IM) is a multi-expert investment manager serving institutional investors, distributors and AXA Group insurance companies from offices in 22 countries. AXA IM is part of the AXA Group, a world leader in financial protection and wealth management. As of 31 December 2009, AXA IM had EUR 499 billion funds under management.
Prior to joining AXA IM, Manser worked as Head of Alternative Investments for Winterthur Group (Zurich), where he was responsible for hedge funds and private equity investments. He was previously a Quantitative Analyst in the Asset Liability Management group of the Asset Management Department of Winterthur Insurance and started his career as a Fixed Income Portfolio Manager at UBS (Zurich). Christopher Manser is a CFA Charterholder and holder of a Licence for Trading on the Swiss Stock Exchange.
