{"id":56545,"date":"2016-09-28T03:55:00","date_gmt":"2016-09-28T01:55:00","guid":{"rendered":"http:\/\/beta.next-finance.net\/1-interview\/antoine-prudent-inpact-advisory-is-currently-conducting-a-mission-for-5-large-swiss-institutional-investors-willing-to-invest-in-an-alternative-risk-premia-strategy\/"},"modified":"2016-09-28T03:55:00","modified_gmt":"2016-09-28T01:55:00","slug":"antoine-prudent-inpact-advisory-is-currently-conducting-a-mission-for-5-large-swiss-institutional-investors-willing-to-invest-in-an-alternative-risk-premia-strategy","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/1-interview\/antoine-prudent-inpact-advisory-is-currently-conducting-a-mission-for-5-large-swiss-institutional-investors-willing-to-invest-in-an-alternative-risk-premia-strategy\/","title":{"rendered":"Antoine Prudent : \u00ab InPact Advisory is currently conducting a mission for 5 large Swiss institutional investors willing to invest in an Alternative Risk Premia strategy \u00bb"},"content":{"rendered":"<p><strong>Next-Finance : Could you describe your activities regarding Risk Premia ?<\/strong><\/p>\n<p><strong>Antoine Prudent :<\/strong> InPact Advisory is currently conducting a mission for 5 large Swiss institutional investors (pension funds and insurers) willing to invest in an Alternative Risk Premia strategy (through a long\/short approach in Value, Momentum, Carry, Quality and Low Volatility premia). The objective is to select an asset manager and launch a dedicated AIFM fund at the end of the year with at least an AUM of 250 million euros as a &#8220;pilot&#8221; allocation for these institutions that have more than 100 billion euros of aggregated assets under management.<\/p>\n<p><citation|texte= The objective is to select an asset manager and launch a dedicated AIFM fund at the end of the year with at least an AUM of 250 million euros as a \"pilot\" allocation... | auteur= Antoine Prudent, founding partner of InPact Advisory \/><\/p>\n<p><strong>What are the benefits or constraints for investors ? What returns are you targeting? Which volatility target?<\/strong><\/p>\n<p>The objective is to get a 0.8 net Sharpe Ratio through different volatility levels for each investor (5 to 10 %) with a low correlation (+\/- 0.2) to traditional asset classes (equities and bonds). The idea is also to drastically reduce costs  ompared to the usual pricing for alternative products (greater than 1.5 % of total expense ratio &#8211; TER).<\/p>\n<p><strong>What are the most interesting strategies for you (Long \/ Short, Event<br \/>\nDriven, M &#038; A, Statistical arbitrage, Implicit assets arbitrage,<br \/>\nCarry\/Liquidity Premium, etc&#8230;)?<\/strong><\/p>\n<p>Initially, we will favour the traditional factors through asset managers<br \/>\n(Value, Momentum, Carry, Quality and Low Volatility) and look in a second<br \/>\nstage to more exotic factors (Volatility, M &#038; A, etc\u2026.) rather offered by<br \/>\nbanks.<\/p>\n<p><strong>What changes need to be done to this management style?<\/strong><\/p>\n<p>The main interests for these strategies are the following:<\/p>\n<ul>\n<li> Need for uncorrelated assets,<\/li>\n<li> Transparency \/ Pedagogy,<\/li>\n<li> Reduced fees compared to hedge funds,<\/li>\n<li> Adaptability \/ ability to integrate these strategies in an overall asset allocation.<\/li>\n<\/ul>\n<p><strong>What criteria do you use to select Risk Premia or Alternative UCITS funds ?<\/strong><\/p>\n<p>The most important criteria in our selection are :<\/p>\n<ul>\n<li> Reputation \/ Experience of the fund manager on this type of strategies,<\/li>\n<li> R &#038; D,<\/li>\n<li> Portfolio management process,<\/li>\n<li> Infrastructure (especially IT\/data), which is key for these strategies),<\/li>\n<li> Transparency and fees.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>According to Antoine Prudent, founding partner of InPact Advisory, the advantage of Risk Premia products is also to reduce costs compared to the usual pricing for alternative products\u2026<\/p>\n","protected":false},"author":1,"featured_media":56543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1469],"tags":[1809,1687,1655,1723,1690,1657,1651,2094,2143,1667,1650,2129,2243],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/56545"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=56545"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/56545\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/56543"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=56545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=56545"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=56545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}