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Moving into Hedge Funds

Moving into Hedge Funds

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Moving into Hedge Funds

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  1. abcd Moving into Hedge Funds Francois van der Merwe FIA Bank of Bermuda

  2. Introduction The World of Hedge Funds Can an Actuary add Value? How do you get in? Is Hedge Funds a viable career? Summary and questions What is this talk about?

  3. What it is Celebrities and nobles Dodgy accounting, Frauds, Scandals and Blow-ups “The next bubble” The World of Hedge Funds • Truth: Common Sense money management

  4. How does it work? Largely unregulated Money machines Quant monsters and Rocket scientists Fundamentalists and Contrarians Mavericks and Gamblers Capital Allocators HNWs Endowments and ?Pension funds? Fund of Funds Institutions The World of Hedge Funds

  5. How big is it? Conventional World Hedge Funds The World of Hedge Funds

  6. Classical Angle Strong stats Basic investment & finance fundamentals … so probably not much of an angle Can actuaries add value? • Contemporary Angle • Grasp of complicated issues • Risk-orientation • ‘Halo’-effect • Network of institutional contacts • … so definitely a strong angle

  7. Small leap options Pension fund consultants Institutional involvement • Study support • Actuarial ticket • Further from the action • On the action • No actuarial ticket • No study support Moving into hedge funds • Big leap options • FoFs • Individual hedge funds

  8. Fraud and other nasties Regulation Inflows Access Retail Institutions Sophistiphication Risk Control Technology Cycles Is there a future in hedge funds?

  9. Introduction The World of Hedge Funds Can an Actuary add Value? How do you get in? Is Hedge Funds a viable career? What was this talk about?

  10. Questions? Lastly

  11. abcd Moving into Hedge Funds Francois van der Merwe FIA Bank of Bermuda