By Katarina Taurian, Investor Daily
Mon 22 Apr 2013
Pengana recommends 'uncorrelated' category
Placing investments into an alternatives category because they vary from standard categories is a "flawed logic", according to Pengana Capital.
Some portfolio constructors have created an alternatives category to hold investments that differ from standard categories, resulting in that category becoming "meaningless", according to Russel Pillemer, chief executive officer at Pengana Capital.
"If you're using it as a category to throw in all orphan investment opportunities - everything that doesn't fit anywhere else - then you just end up with a collection of strategies where there's no logic for them to be together," Mr Pillemer told InvestorDaily.
Attached Files:
Alternatives category "meaningless" (pdf format)
