To set the scene for gaim 2015, we asked some of our allocators and end investors to share their views on what will be grabbing the headlines in 2015, from an alternatives business and investment perspective.

 

Serge Lederman


Serge Ledermann, BANK J SAFRA SARASIN

'The challenges of managing money in a negative interestrates environment. Will hedge funds recover their mojo one day? Will asset/fund managers adjust their fee structure in the persisting low return environment?'

 

Werner Goricki

Werner Goricki, PRIME CAPITAL, AG

'The search for yield, especially by regulated investors. My personal guess is that 2015 will continue to be dominated by headlines about spread compression, but with an increasing amount of headlines about the inevitable accidents in specifi c market pockets.'


Marc de Kloe

Marc de Kloe, ABN AMRO PRIVATE BANKING

'What is the investment idea that you have not found? Where will the next 30% big move come from? How do you better construct your portfolio? The evolution of alternative alternatives? Is private credit the next new thing?'

 

Stephen Oxley

Stephen Oxley, PAAMCO

'2015 is likely to continue to be characterised by a wide dispersion in economic indicators, political risk and more divergent outcomes across markets. This is a diffi cult environment, but signals opportunity for long/short investors with longer time horizons. Our base case is that value can be captured at the micro level this year.

 

Rania Azmi

Rania Azmi, MIDDLE EASTERN SWF

'Investors should be able to look far beyond any market or financial information noise; that is to seek high risk-adjusted returns in asset classes with least possible geopolitical and social risks. Having said that, the main issues that would surface as a noise or as a real structural problem for the world economy would be most probably related to political and social factors (ranging from social pressures to terrorist attacks and geopolitical complications) with magnifi ed impacts as result of being across countries and different regions.'


Cedric Kohler

Cederic Kohler, FUNDANA

'2015: death or rebirth for macro managers? Beware of liquidity risks - especially in Monaco.'