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When a Strategy Defied Expectations: Interview with Acadian Asset Management

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Michelle deBoer-Jones
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Mike Gleason and Seth Weingram of Acadian Asset Management

For years, multi-strategy hedge funds have largely utilized the multi-manager model. However, that could change in the coming years as competition pressures fees and puts the pinch on smaller firms, potentially making the multi-manager model unsustainable, at least for some.

Michael Gleason
Michael Gleason

In a recent interview with Hedge Fund Alpha, Mike Gleason and Seth Weingram of Acadian Asset Management explained why a systematic multi-strategy fund makes for an interesting challenger to the prevailing multi-manager approach.

"We come up with our best ideas for a comingled vehicle …" explained Gleason, director of alternative equity strategies for the firm. "Everything is by design and purpose-built, so we're not just collecting strategies that happen to be here. We're being thoughtful on how to assemble specific targets in the multi-strategy model."

When a strategy worked… even though it shouldn't have

In fact, Gleason’s team had one sub-strategy in development for a year or two, demonstrating how much thought they put into assembling their strategies. The firm launched several sub-strategies in early 2020. One, in particular, worked — even though it maybe shouldn't have.

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Michelle deBoer-Jones is editor-in-chief of Hedge Fund Alpha. She also writes comparative analyses of stocks for TipRanks and runs Providence Writing Services. Previously, she was a television news producer for eight years, producing the morning news programs for NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spending a short time at the CBS affiliate in Huntsville.