Trade-Offs in Liquid Alternatives: The Currents beneath the Surface
Summary: Price and liquidity dislocations occurred in many asset classes both during and after the financial crisis. Hedge funds were not immune and as a result, so-called liquid alternatives, or vehicles attempting to mirror hedge fund returns and volatility but with greater liquidity, have proliferated. The structure of capital markets has also changed as a result of the crisis both in terms of trading volume and investor flows. Thus, we believe the risks and opportunities of liquid alternatives deserve a closer look amid this new landscape. Please join Chris Heasman, Portfolio Manager/Analyst on Lazard's Fund of Hedge Funds team, as he discusses key investment considerations for liquid alternatives. Featured Speaker: Chris Heasman Director, Portfolio Manager/Analyst Lazard Asset Management LLC (New York) Chris Heasman is a Portfolio Manager/Analyst on the Fund of Hedge Funds team and a member of the Fund of Hedge Funds Investment Committee. He began working in the investment field in 1979. His capital markets experience includes leading global principal trading and risk positioning businesses with direct P&L and capital allocation responsibilities across multiple asset classes. Prior to joining Lazard in 2001, Chris led the development and portfolio management of JP Morgan Investment Management's Hedge Fund Group's Structured Hedge Fund products. Previously he worked with CIBC, Banque Indosuez, CitiNational (Citibank) and Capel Court Corporation. He also held a membership of the Sydney Futures Exchange where he operated for many years as an independent option market maker. He was an advisor to the Board of Directors of the Sydney Futures Exchange for 10 years and was responsible for the design of many of the financial futures and options contracts traded on that exchange.