Marc de Kloe is Head of Alternatives Investments and Funds at ABN Amro Private Banking where he is responsible for funds and alternative investments including long only, hedge funds, private equity & real estate.
In this Opalesque.TV BACKSTAGE video, Marc speaks about the evolution of ABN Amro Private Banking’s hedge fund offerings, growing the hedge fund exposure tenfold to $3bn, with more to go (the bank recommends a 5% hedge fund allocation). For Marc, hedge funds are not a magic bullet, but a menu of options for dedicated problems. He also explains what fund managers and promoters can do to help private banks to better sell alternatives.
First, fund promoters need to understand thatoffshore is passé: With AIFMD, offshore hedge funds can’t be sold any more to non professional clients, which includes private banks and most family offices. Therefore, the private banks’ preferred vehicles are managed accounts, funds of managed accounts, UCITS, and AIFs. The transparency those vehicles provide allows for stress tests, which turns out to be an extremely powerful huge sales argument.
Marc also speaks about:
– How fees got down to 1% and less
– Where reporting has to improve
– Issues and opportunities of UCITS
– ABN Amro’s selection criteria for hedge funds
As Head of Alternatives Investments and Funds at ABN Amro Private Banking, Marc de Kloe developed, implemented and controlled a private banking product suite of alternative investments, which is internally and externally recognized as industry leading totalling over US$ 3bn.
ABN AMRO Private Banking manages over EUR 176 from over 100,000 clients, ranking among the top three private banks in the Eurozone, top seven in Europe and top 20 in Asia. The bank offers a full range of banking, financial & estate planning, and investment services in more than 10 markets, including the prestigious private banks of ABN AMRO MeesPierson in the Netherlands, Bethmann Bank in Germany and Neuflize OBC in France, and in Singapore and Hong Kong.