August Chapter Meeting - Sameer Jain on 'Asset Allocation in Alternative Investments' and 'Durable Income'

  • Wednesday, August 27, 2014
  • 2:30 PM - 5:00 PM
  • Phoenix Country Club


Hour 1: Asset Allocation in Alternative Investments

This session examines issues surrounding asset allocation across alternative investments (AI) such as private equity, real estate, hedge funds and managed futures. Unlike with traditional assets where returns are accurate and transparent, AI return data can be stale and difficult to find. Traditional measures do not accurately measure risks in AI as returns are skewed, positions are less liquid, and markets are often inefficient.

A framework for accurately assessing a manager's historical performance will be provided and we'll also look at newer approaches which attempt to forecast future returns. We will examine how investors may account for risks peculiar to active management such as short track records, strategy drift, and downside risk. Finally, we will discuss building integrated portfolios that include both passive asset classes and active managers.

Hour 2: Durable Income

Many investors are drawn to fixed income because it provides steady income and has the ability to diversify portfolio risk. Fixed income investors contend with the challenges of low expected returns, a paucity of skilled managers who have the potential to outperform the benchmark in what is a fairly efficient asset market, and take on interest rate, credit spread & inflation risks.

Durable Income helps in augmenting and diversifying away from traditional fixed income investing and serves as a valuable portfolio component. Durable Income uses real assets, overlooked fixed income subtypes, and absolute return strategies to structure portfolios that maintain the attractive features of traditional fixed income while mitigating attendant risks. Financial innovation and new products provide flexibility to repackage various fixed income return sources in a way that better meets long term income goals.

Sameer Jain serves as Chief Economist and Managing Director of American Realty Capital, an investment services firm expressly focused on the alternative investment industry. Mr. Jain’s executive management and multifaceted responsibilities at American Realty Capital, include risk management, firm strategy, and direction development, as well as the analysis and evaluation of alternative investments. He has 18 years of industry experience during which his responsibilities have included formulating investment strategy, developing risk management practices and asset allocation models, creating thought leadership, and assessing and engaging real estate, private equity, and hedge fund managers. Prior to joining American Realty Capital Mr. Jain headed Investment Content & Strategy at UBS Alternative Investments, where he was also responsible for all illiquid investing across the platform. Prior to UBS, Mr. Jain served at Citi Capital Advisors Alternative Investments and SunGard System Access. He has written a number of academic and practitioner articles on alternative investments, many of which are available in the public domain at Mr. Jain is a graduate of Massachusetts Institute of Technology and Harvard University.

WEDNESDAY, August 27th

Chapter Meeting: 2:30 to 5:00 pm;

5:00-6:00 Social Hour

at Phoenix Country Club (7th St. & Thomas)

2 hours of CFP Continuing Education

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