Unlimited

Interested in insights on this week’s economic and market activity? Watch our CEO and CIO, Bob Elliott as he joins #CNBC Closing Bell on Aug 16 at 4PM ET. #markets #macroeconomics

We would like to thank the #CFASocietyBoston for hosting our CEO and CIO, Bob Elliott, to present “Hedge Funds and the Big Evolution in Replication Approaches”. Grateful for all the members who joined us in the room and via webinar! #hedgefunds #replication

Join our Macroeconomic Webinar, Volatility is Back! August 15, 2024 at 4:15 PM ET. Register: https://lnkd.in/eH-_WczY

New Unlimited Funds Blog Post - Elusive Persistence Last year, we wrote a piece evaluating hedge funds’ performance persistence and its implications on allocators' ability to select managers. Our conclusion was straightforward: individual hedge fund manager outperformance is not persistent relative to the overall Hedge Fund index. Therefore, a randomly selected portfolio of funds would perform as well as an allocators’. While we looked at the industry as a whole in the previous work, a common point of discussion was the potential for persistence *within* hedge fund strategies. For example, some may argue that proprietary research processes explain a long/short manager’s strong performance and therefore, persistence should exist for long/short managers but not across the board. It’s easy to imagine similar arguments – “better data”, “experience”, “culture”, etc. — for other hedge fund strategies. So, armed with a larger Preqin dataset, we revisited the topic. When each hedge fund is compared only to other funds running the same type of strategy, the probability of that fund persistently outperforming the median (or top quartile) still aligns with random chance.  And even popular approaches like picking the highest risk-return strategies haven’t historically beat the index over time.  The conclusion suggests allocators could focus less on trying to pick the “best” funds and more on diversification and reducing fee expense. Hedge Fund Outperformance Persistence Is No Better Than Random Chance #hedgefund #performance #returns #investment #blog https://lnkd.in/eCQv8qKp

Opportunity for an ETF Sales Lead at Unlimited Funds - reaching out to our LinkedIn network to find the right person the help power our business development efforts alongside our world-class team! Unlimited is based in New York City and operates a flexible hybrid approach with the majority of the team onsite 2-3 days a week.  This role requires a willingness to travel (20-30%).

We’re excited to welcome Nathan Nangia to Unlimited Funds as our #summerintern! Nathan is currently pursuing an #MBA and a Masters in Computer Science (#MPCS) at the University of Chicago, with a passion for investment management. His drive to apply innovative data system architecture and analytical skills to strategic investment decisions makes him a fantastic addition to our team. Nathan has a rich background as an Investment Analyst at Cornell University Investment Office. At Unlimited Funds, Nathan is already making a significant impact, bringing his expertise and enthusiasm to our team. We’re excited to see the innovative insights and contributions he will bring to our projects this summer! Join us in welcoming Nathan!  #InvestmentManagement #DataAnalytics #Finance #Internship  #computerscience

In the Boston area on July 31st?  Or able to livestream? Join Unlimited’s Bob Elliott at CFA Society Boston for an in-person luncheon and streamed live presentation!  Register: https://lnkd.in/ewgPGXHe #hedgefunds #CFA #replication #machinelearning

One of the commonly raised concerns about Hedge Fund replication strategies is the tracking error to its index. While any replication is bound to be imperfect, it is important to wrestle with the alternative that most investors are choosing today – the significant tracking error that comes from concentrated investments in single managers. When the two are compared, it’s pretty clear that most investors would be better off accepting the model error of a low-cost, tax-efficient replication than investing in high cost, tax-inefficient single manager investments. Working through the numbers, it looks like replication could be about 9x more likely to outperform single manager investments over time. Read more: https://lnkd.in/e6JvmRBS #hedgefunds #replication #alternativestartegies #alternatives #riskmanagement

Unlimited Hedge Fund Barometer 2Q 2024 - A Guide to Performance and Positioning of The Global Hedge Fund Industry. Hedge Fund performance in the second quarter was modestly positive across most hedge fund strategies, with Managed Futures and Global Macro managers notably delivering weak returns as market and economic trends oscillated quickly from March to April to May. Access the full report: https://lnkd.in/eePvwm8t #hedgefunds #alternatives #2qresults

In the Boston area on July 31st?  Or able to livestream? Join Unlimited’s Bob Elliott at CFA Society Boston for an in-person luncheon and streamed live presentation!  Register: https://lnkd.in/ewgPGXHe #hedgefunds #CFA #replication #machinelearning