U.S. Alternative Investments 2020
The Path Forward
Drive Demand in New Channels
- Explore the state of liquid alternatives product development, performance, barriers to adoption, and growth opportunities
- Analyze thorough sizing of the alternative investment market
- Understand the distribution landscape for alternatives, including outlook, opportunities, challenges, and key recommendations
- Evaluate the distribution and use of liquid alternatives products
- Review new data surrounding non-traded REITs (NTRs), business development companies (BDCs), and interval funds
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Cerulli’s Alternative Investments report provides holistic coverage of alternative investments—including those used by both retail and institutional investors—and covers the broad range of vehicles through which allocations can be delivered, with a focus on the democratization of alternatives.
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A Note from the Author
How Can Firms Target Retail Channels for Alternative Assets?
Daniil Shapiro, CFA
Daniil is part of Cerulli’s Product Development practice, where he works on the identification, analysis, and reporting of asset management industry trends with a focus on exchange-traded funds (ETFs) and alternative investments.
Prior to joining Cerulli Associates, Daniil was part of the Product Management and Business Intelligence teams with the MainStay Funds, part of New York Life Investment Management. At MainStay, Daniil supported sales efforts via fund and ETF competitive analysis, product research, and development of marketing materials, as well as performance reporting. Before New York Life, Daniil was part of the risk management practice at Accenture, and held risk and compliance roles at HSBC’s investment bank.
Full biography here.
The case remains for the democratization of alternative investments as both traditional managers and incumbent alternative investment managers such as private equity and hedge fund firms increasingly target retail channels for alternative investment allocations. The trend itself is ongoing, if not accelerating, as traditional managers experiencing significant fee compression seek to offer higher-margin products while private equity and hedge fund firms seek to diversify their revenue sources as some of their distribution channels (e.g., defined benefit plans) face pressure.
Cerulli’s report, U.S. Alternative Investments 2020: The Path Forward, provides holistic coverage of alternative investments and insight into the movement to democratize the asset class as traditional asset managers, hedge funds, and private equity firms expand their reach to retail channels.
2020’s report also offers unique perspective on the universe of liquid alternatives. The findings suggest that while liquid alternatives offer managers the opportunity for revenue diversification and increased fees, advisor adoption is a critical barrier to expansion.
- How can managers address these challenges?
- What are the right vehicles for alternative strategies and how can firms best compete?
Our latest report, U.S. Alternative Investments 2020, answers these questions and more.
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