Covestor’s search for emerging hedge fund managers caught the attention of Hedge Funds Review recently, as the publication wrote a feature story on our recruiting efforts.
“There is growing interest among our members in alternative investment strategies,” Covestor CEO Asheesh Advani told Hedge Funds Review in the interview. “We’re looking for emerging hedge fund managers that are interested in raising capital from family offices and retail investors and want to showcase their strategies and performance on a verified platform.”
As Hedge Funds Review noted, we’ve conducted due diligence on 20 to 30 prospective managers at this point. Our early focus has been on finding long-short-managers who invest in equities and ETFs with plenty of liquidity.
Beyond that, it’s a matter of finding experienced managers with sustainable strategies who will help us on Covestor offer quality investment products and increase assets under management.
Strong performance track records are important, as Asheesh notes in the article. But size is not; top-performing managers with less than $100 million in assets may still be highly regarded based on their annualized returns.
“The benefit of being on the Covestor marketplace is that you get to show the world how good you are,” Asheesh says.
Asheesh also noted in the interview that we are in talks with several funds of hedge funds that want to use our platform’s technology to improve the level of transparency they receive from managers.
Covestor is backed by Union Square Ventures, a venture capital firm that was an early investor in companies like Twitter, Tumblr and Foursquare.
You can read the entire Hedge Funds Review story here.
Experienced emerging managers should contact us at managerrelations@interactiveadvisors.com.
