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Animal Spirits Podcast

Talk Your Book: Customizing Alternatives

Sep 18, 2023
The podcast discusses wealth managers vs. institutions investing in alternatives, how advisors are utilizing GLASfunds, investing in alts in a rising-rate environment, how private investments could be improved, and debates on fee structure and transparency in finance.
31:17

Podcast summary created with Snipd AI

Quick takeaways

  • Wealth managers now have better access to alternative investment funds, challenging the traditional notion that only institutional investors can invest in alts.
  • Private capital, including private credit, private equity, and real assets like real estate and infrastructure, has been dominant in attracting allocations compared to hedge funds.

Deep dives

Overview of Glass Funds

Glass Funds is an alternative aggregation platform that helps wealth managers scale and allocate alternative allocations across their client base, including hedge and private capital strategies. Unlike some competitors, Glass Funds is not a feeder fund. They have two main buying entities, an onshore and an offshore fund, with each underlying strategy acting as a side pocket that's legally walled off from others. This allows advisor firms to create fully bespoke portfolios across hedge and private capital, providing various operational and cost efficiencies. Glass Funds also offers aggregated reporting, including tax reporting, allowing investors to own multiple assets while receiving a single aggregated K-1 form.

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