Robert Kaplan, Chief Investment Officer at Permal Asset Management Inc, is responsible for asset allocation, performance monitoring and research and is a member of the Permal Investment Committee. The New York-based firm, which currently manages around $23 billion, was launched in 1973 and is one of the oldest fund of hedge funds groups in the world. Over the past few years Permal has developed a substantial separately managed account business, a platform that enables them to better address liquidity and control, investment flexibility, reduced fees, and customization.
In this Opalesque TV interview, Robert describes his investment philosophy and we learn about the value of an accounting background that helped him develop a deeper understanding of both the qualitative and quantitative factors necessary in evaluating managers.
He discusses how Permal has adapted to the increased demands of today's market and how growing correlations in world markets, as well as between hedge fund strategies, have forced funds to work even harder to differentiate themselves. This correlation effect and the issue of "evaporating alpha" are a widespread concern for investors.
Learn about the following:
* Permal's core philosophy and investment team
* Specific examples of using separate accounts to capture opportunities
* How to address the "evaporating alpha" dilemma
* Active investment: Co-investment, early stage investment, and secondary market
About Robert Kaplan: Mr. Kaplan joined the Permal Group in 1996, focusing on the discovery and identification of independent, investment managers including the analysis of their styles and strategies. Mr. Kaplan is currently Chief Investment Officer, responsible for ongoing asset allocation, performance monitoring and research and is a member of the Permal Investment Committee. Prior to joining the Permal Group, Mr. Kaplan was an audit manager at Ernst & Young in their financial services division. Mr. Kaplan has an M.B.A. with honors from Columbia University in New York and a B.S. in accounting from the State University of New York at Albany. Mr. Kaplan was a licensed Certified Public Accountant in the state of New York.
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Robert Kaplan, Chief Investment Officer at Permal Asset Management Inc, is responsible for asset allocation, performance monitoring and research and is a member of the Permal Investment Committee. The New York-based firm, which currently manages around $23 billion, was launched in 1973 and is one of the oldest fund of hedge funds groups in the world. Over the past few years Permal has developed a substantial separately managed account business, a platform that enables them to better address liquidity and control, investment flexibility, reduced f
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