Alts Democratized, + Website: A Practical Guide to Alternative Mutual Funds and ETFs for Financial Advisors

275 Pages·2014·1.995 MB·English

by  Jessica Lynn Rabe, Robert J. Martorana

Alts Democratized
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Alts Democratized
A Practical Guide to Alternative
Mutual Funds and ETFs for
Financial Advisors
JESSICA LYNN RABE
ROBERT J. MARTORANA, CFA
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10987654321
To my dad, David M. Rabe, for always supporting
me in taking strategic risks and pursuing
unconventional paths
Jessica Lynn Rabe
To the glory of God and to Abraham Samuel,
founder of the Sharon Children’s Home
in Andhra Pradesh, India
Robert J. Martorana, CFA

Contents
Foreword xiii
RobertJenkins,GlobalHeadofResearchat
ThomsonReutersLipper
Acknowledgments xvii
Introduction xix
CHAPTER1
DefinitionsandMethodology 1
Definitions 1
LipperClassifications 2
TheFuture 2
Methodology 3
GuidetoChapters3through13 5
Summary 8
CHAPTER2
RoadMapfortheLiquidAltsSpace 9
LiquidAltsinContext 9
AssetsandNetFlows 13
IPOsandLiquidations 13
RiskandReturn 18
Summary 20
Questions 20
CHAPTER3
AbsoluteReturnFunds 21
Definition 21
TotalNetAssetsandNetFlows 22
RiskandReturn 23
FactorExposures 24
AssetAllocationandFundSelection 25
vii
viii CONTENTS
TopTenFunds 26
BlockbusterandSpotlight 29
Summary 33
Problems 33
References 34
CHAPTER4
AlternativeActiveExtensionFunds 35
Definition 35
TotalNetAssetsandNetFlows 36
RiskandReturn 37
FactorExposures 38
AssetAllocationandFundSelection 40
TopTenFunds 41
BlockbusterandSpotlight 44
Summary 47
Problems 47
CHAPTER5
AlternativeCreditFocusFunds 49
Definition 49
TotalNetAssetsandNetFlows 50
RiskandReturn 51
FactorExposures 52
AssetAllocationandFundSelection 54
TopTenFunds 55
BlockbusterandSpotlight 60
Summary 63
Problems 63
References 63
CHAPTER6
AlternativeCurrencyStrategiesFunds 65
Definition 65
TotalNetAssetsandNetFlows 66
RiskandReturn 67
FactorExposures 68
AssetAllocationandFundSelection 69
TopTenFunds 70
BlockbusterandSpotlight 76
Summary 77
Problems 77
Reference 77