Context Summits and Mercer Report Reveals High Investor Conviction in Hedge Funds Despite the Global Pandemic
16 6월 2020 - 11:00PM
Business Wire
Context Summits, the leader in the one-on-one conference format
for the alternative investment industry and Mercer, a global leader
in redefining the world of work, reshaping retirement and
investment outcomes, and unlocking real health and well-being,
today announced the findings from the 2020 Context Allocator Trend
Report. The survey, which was initially fielded in January during
Context Summits Miami, and then again in May due to the COVID-19
pandemic, evaluated investment behaviors and trends as it relates
to adoption and allocation to alternative investment
strategies.
This year’s survey revealed that, despite market uncertainty,
investor sentiment toward hedge funds shifted from January to May
as those “very optimistic” toward hedge funds grew from 7% to 13%.
Investors are, however, evolving their approach to evaluating
managers, placing a greater emphasis on track record, which
increased from 11% in January to 16% in May, and paying less
attention to performance, which declined from 21% in January to 16%
in May.
“It’s not surprising that allocators are managing through the
pandemic and economic crisis by adjusting their investment
allocations,” said John Culbertson, President and CIO of Context
Capital Partners. “In a post-COVID-19 world, it is likely some
trends, including virtual meetings and interactions will accelerate
and could become permanent. But as long as long-term relationship
building between managers and allocators remains relevant, face to
face meetings and an intense due diligence process will remain an
important part of go-forward allocations.”
Additional key survey findings include:
- Allocators Are Taking Action with Their Portfolios: 55%
of allocators intend to adjust their portfolios, although there is
nearly an even split on whether the changes are designed to add or
mitigate risk.
- Allocations Happen Quickly: Allocators committed to
making a change typically spend 50-100 hours conducting rigorous
due diligence with 56% reporting that implementation of new
allocations occur within 6 months or less from an initial
introduction; 85% of new allocations occur within 12 months.
- ESG Factors Are Gaining Traction: Investor sentiment
over the importance of ESG continues to shift slightly more
positive as extreme negative sentiment decreased from 42% in 2019
to 34% in 2020 and extreme positive sentiment saw a slight uptick
from 9% in 2019 to 12% in 2020. We expect this trend to continue as
the investors push for clarity and metrics around the ESG
framework.
- Market Downturn Worries Allocators the Most: Fears of a
market downturn are most worrisome to investors in the wake of the
COVID-19 pandemic, with this increasing from 27% in January to 31%
in May. Reaching return goals is the second highest concern.
“As our survey results indicate, asset allocators hold
increasingly diverging views on public markets due to the COVID-19
crisis, with many seeing opportunities in certain sectors such as
e-commerce and transformational technologies, as well as emerging
market and credit investments,” said Gregg Sommer, Partner at
Mercer. “These periods of market volatility highlight the
importance of adopting and maintaining investment discipline and
governance processes.”
The 2020 report, a joint project between Mercer and Context
Summits, was conducted at Context Summits Miami 2020, an annual
event that convenes fund managers and allocators for a series of
one-on-one meetings and small group interactions. The report is
based on over 360 responses from institutional allocators who
attended this year’s event in January.
Subsequent to the initial survey, an updated survey was emailed
to more than 100 institutional allocators in May.
The full survey results, along with an analysis of key findings,
are available via the latest Context Allocator Trends Report at:
https://contextsummits.com/resources/allocator-trends/
About Context Summits
Context Summits and Context 365 have one goal—to connect the
alternative investment industry. Context Summits, the pioneer of
the one-on-one conference format, brings managers and allocators
together for focused, efficient, and productive one-on-one meetings
though single and multi-day events. Originally built to support our
conferences, Context 365 is an online platform where managers,
allocators, and service providers can make relevant connections
within our exclusive network. This proprietary technology is now
available on a daily basis so members can gain solid leads,
cultivate tangible opportunities, and build meaningful
relationships 365 days a year. For more details, please visit:
http://www.contextsummits.com.
About Mercer
Mercer believes in building brighter futures by redefining the
world of work, reshaping retirement and investment outcomes, and
unlocking real health and well-being. Mercer’s more than 25,000
employees are based in 44 countries and the firm operates in over
130 countries. Mercer is a business of Marsh & McLennan (NYSE:
MMC), the world’s leading professional services firm in the areas
of risk, strategy and people, with 76,000 colleagues and annual
revenue of $17 billion. Through its market-leading businesses
including Marsh, Guy Carpenter and Oliver Wyman, Marsh &
McLennan helps clients navigate an increasingly dynamic and complex
environment. For more information, visit www.mercer.com. Follow
Mercer on Twitter @Mercer.
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Kayce D’Onofrio (646) 818 9247 kdonofrio@prosek.com
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