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25 years, 25 CEOs: Rob Shafir, CEO, Credit Suisse Asset Management
15 January 2012
To celebrate its 25th anniversary, Global Investor/ISF interviewed 25 CEOs. The Volcker rule – and crucially a lack of clarity over how it will be implemented – is the top concern for the Credit Suisse Asset Management chief
Credit Suisse Asset Management
Two years ago we made a big bet on alternatives. I thought then, as I do now, that the argument in terms of risk-adjusted returns was compelling. Yes there have been problems which during the credit crisis forced managers to suspend redemptions – and failures in transparency. But the sector is developing fast. Some alternative strategies are now falling into the core buckets of credit and equities.
If you want exposure to equities, investors are realising, using hedging strategies to soften volatility this way is sensible. Now count in investors’ risk aversion and the large pools of capital still on the sidelines: investors need returns to meet their liabilities; when confidence returns strategies that dampen volatility will be very popular.
The biggest difference to the industry two years from now will be a...
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