By Claire Makin There is nothing half-hearted about the NB Alternatives Fund of Hedge Funds team or its beliefs. Too much diversification weakens portfolios; hedge funds change what they do over time so watch them with eagle eyes; a flat hierarchy is the best way to run the business.
Also, avoid growing too attached to your managers. “There are plenty of hedge funds out there,” says Eric Weinstein, the team’s chief investment officer and managing director.
Despite strict rules, the team insists that it does not follow a rigid approach to investing. “We try not to be too dogmatic. We view pragmatism as our strength,” says Jeff Majit, who is the London-based head of European investments as well as head of event-driven and relative value research.
In fact, the team’s approach is more consensus than prescriptive guidelines. Their core beliefs have developed over the years that...