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Alternative Fund Insight

The AFI podcast takes listeners behind the headines in hedge funds.


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  • 5. Ep 29 - Two Seas Capital founder Sina Toussi on his unique event-driven strategy

    37:50||Season 2, Ep. 5
    Discover the 25 most influential global hedge fund allocators: https://alternativefundinsight.com/power25-hedge-fund-allocator-ranking-2024/In episode 5 of the second series of the AFI podcast, host Will Wainewright is joined by Sina Toussi, founder and CIO at US event-driven manager Two Seas Capital, which trades on legal and regulatory catalysts. See topics covered in the notes at the bottom of this section.You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the AFI website: www.alternativefundinsight.com. More on Two Seas Capital: https://twoseascap.com/Follow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightRelease date: 5 January 2024 (recorded on 9 December 2024)*No part of this audio constitutes investment advice. Past performance does not guarantee future returns*1:49 - Introduction to Two Seas Capital, background on Toussi's career and strategy5:55 - Update on location, AuM, strategy at Two Seas (just passed $1bn)7:28 - Trading priorities for next year (most fertile territory in commercial litigations, esp. biotech sector)12.12 - Breaking down the strategy simply. Example of Esperion Therapeutics.17:25 - How do you handle the uncertainty associated with these cases? 20.50 - How the firm uses FOIAs in its research process.23.46 - Approach in UK.27.13 - Thoughts on Argentina under Milei.31.42 - Impact of Trump's second term.34.19 - Advice on building a firm/to young people entering the industry.

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  • 4. Ep 28 - Explainer: Why 2024 has been the year of the managed account

    08:09||Season 2, Ep. 4
    Start by signing up to AFI's FREE weekly intel newsletter: alternativefundinsight.com/newsletter-sign-up/In episode 4 of the second series of the AFI podcast, founder and host Will Wainewright brings you the first "Hedge Fund Explainer" - focused on why 2024 has been the year of the managed account. This trend has been driven by changing LP/GP power dynamics and the increased use of external allocations by multi-manager platforms.You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the website: www.alternativefundinsight.comFollow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightRelease date: 28 December 2024 (piece published to AFI members on 20 December 2024: https://alternativefundinsight.com/key-trends-why-2024-is-the-year-of-the-managed-account/)*No part of this audio constitutes investment advice. Past performance does not guarantee future returns*
  • 3. Ep 27 - Broad Reach's Brad Wickens on global impact of Trump 2.0 and systematic investing in EM

    36:55||Season 2, Ep. 3
    Start by signing up to AFI's FREE weekly intel newsletter: alternativefundinsight.com/newsletter-sign-up/In episode 3 of the second series of the AFI podcast, host Will Wainewright is joined by Brad Wickens, a veteran emerging markets-focused hedge fund manager and founder of Broad Reach Investment Management, a $2bn firm based in London. See topics covered in the notes at the bottom of this section.Information about the EMPower charity mentioned and supported by Brad: https://empowerweb.org/You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the website: www.alternativefundinsight.comFollow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightRelease date: 20 December 2024 (recorded on 12 December 2024)*No part of this audio constitutes investment advice. Past performance does not guarantee future returns*1:47 - Introduction to Wickens’ career and Broad Reach update5:00 - Staff longevity (difference to pod-shop mentality)5:45 - Introduction to strategy - systematic approach to emerging markets (momentum rather than value)8:44 - Changing nature of value investing in EM during his career10:59 - Focus on carry element.13:43 - Global tour. Start with impact of “momentous” US election result.17:34 - Trump term wasn’t as negative for EM as people remember.18:15 - Negative on Mexico?21:13 - Trump = turbulence/volatility, which leads to opportunities?22:16 - Impact of Javier Milei in Argentina25:20 - What has driven strong Broad Reach returns this year?27:27 - Thoughts on Europe/Germany/UK30:00 - Could a Milei approach help? Changing European political structure30:52 - How can UK improve?32:27 - Next areas of innovation34:16 - Charity interests
  • 2. Ep 26 - NorthWall Capital founder Fabian Chrobog on opportunities in European private credit

    28:19||Season 2, Ep. 2
    Start by signing up to AFI's FREE weekly intel newsletter: alternativefundinsight.com/newsletter-sign-up/*In episode 2 of the second series of the AFI podcast, host Will Wainewright is joined by Fabian Chrobog, founder of North Wall Capital, a near-€2bn private credit manager based in London. See topics covered in the notes at the bottom of this section.You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the website: www.alternativefundinsight.comFollow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightRelease date: 10 December 2024*No part of this audio constitutes investment advice. Past performance does not guarantee future returns*1:28 - Introduction to Fabian and North Wall3:16 - Evolution into diversified firm4:59 - Impact of higher-for-longer rates outlook. Focus on situational complexity opportunities.9:29 - Focus on asset-backed opportunities.11:36 - Is it ‘next frontier’ in private credit?12:25 - Legal assets strategy14:36 - How do you make decisions on which legal situations to focus on?16:45 - Impact of US election result?18:29 - ESG agenda has taken a battering - implications?20:27 - HQ in London and thoughts on political changes21:46 - Message for the Labour government?22:05 - Continuing focus on European illiquids. More international interest.23:23 - Bubble in private credit?24:50 - Culture and recruitment26:27 - Key priorities for 2025 
  • 1. Ep 25 - Winton co-CIO Simon Judes on performance trends, innovation and the future in CTA investing

    30:05||Season 2, Ep. 1
    Start by signing up to AFI's FREE weekly intel newsletter: alternativefundinsight.com/newsletter-sign-up/*In the first episode of the second series of the AFI podcast, host Will Wainewright is joined by Simon Judes, co-CIO at Winton, a $13bn systematic specialist hedge fund in London. See topics covered in the notes below.You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review.Contact Will: will@alternativefundinsight.com Visit the website: www.alternativefundinsight.comFollow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insightRelease date: 3 December 2024*No part of this audio constitutes investment advice. Past performance does not guarantee future returns*00:40 - Introduction to AFI research offering and partner note.1:37 - Introduction to Simon Judes (background, career, role) and Winton (AuM, headcount, regional footprint)3:43 - CTA performance overview in 20246:26 - Historic backdrop to CTA performance; trend or non-trend now key?7:33 - Trend-following speed debate9:37 - Is diversification key to the appeal?11:20 - Insights into business development12:49 - Latest research focus (medium frequency strategies in macro and equity markets; systematic commodities; systematic credit; specialised interest rate strategy; and upcoming options strategy)14:14 - Focus on systematic credit15:32 - Focus on multi-strategy product17:10 - Its place within wider Winton range18:30 - Talent and recruitment20:46 - London hedge fund industry being globally significant. What about Abu Dhabi?22:05 - Current CTA positioning looking to 202523:43 - Role of more esoteric strategies24:13 - Trading China25:21 - Future of CTAs
  • Ep 24 - HFR president Ken Heinz on hedge fund returns, flows, fees and more

    26:14|
    *Discover a new world of alternative investment insight and business intelligence — AFI membership is now available. Start by signing up to the FREE weekly intel newsletter: alternativefundinsight.com/newsletter-sign-up/* In today's episode, Will is joined by Ken Heinz, president at HFR, for a conversation about the hedge fund industry outlook for performance, flows, fees and more. On the agenda: 2023 performance analysis and 2024 outlook; LP appetite for active management; strategy preferences, topped by credit; deep-dives on launch market, multi-manager trends and fees. This episode is brought to you in association with the Independent Research Forum, enabling professional investors to access a wide range of high-quality independent research. AFI recommends the Cut, its fortnightly newsletter, highlighting the latest original and thought-provoking research. www.independentresearchforum.com You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review. Contact Will: will@alternativefundinsight.com Visit the website: www.alternativefundinsight.com Follow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insight Release date: 25 February 2024 *No part of this audio constitutes investment advice. Past performance does not guarantee future returns*
  • Ep 23 - Shiloh Bates on the CLO investing opportunity

    22:11|
    *Discover a new world of alternative investment insight and business intelligence — AFI membership is now available. Start by signing up to the FREE weekly intel newsletter: https://alternativefundinsight.com/newsletter-sign-up/* In today's episode, Will is joined by Shiloh Bates, CIO at Flat Rock Global and author of new book, CLO Investing: With an Emphasis on CLO Equity & BB Notes: https://www.amazon.co.uk/CLO-Investing-Emphasis-Equity-Notes/dp/1642376566 On the agenda in today's podcast: The CLO investing opportunity and its resurgence in the years since the 08/09 crisis. This episode is brought to you in association with the Independent Research Forum, enabling professional investors to access a wide range of high-quality independent research. AFI recommends the Cut, its fortnightly newsletter, highlighting the latest original and thought-provoking research. www.independentresearchforum.com You can subscribe to the AFI podcast on iTunes, Apple Podcasts, Spotify or any other podcast app. All feedback welcome! If you enjoyed this or other episodes please subscribe, leave a rating and review. Contact Will: will@alternativefundinsight.com Visit the website: www.alternativefundinsight.com Follow the latest developments via our LinkedIn page: www.linkedin.com/company/alternative-fund-insight Release date: Tues 30 January 2023 *No part of this audio constitutes investment advice. Past performance does not guarantee future returns*