By Claire Makin
As a fiduciary, Mirabaud Asset Management believes it has a clear duty to clients to draw on the best investment expertise available in the market. That includes hedge funds – not for their ability to plug gaps in a risk budget, but for the old-fashioned reason that many of them are run by excellent managers.
“My mission is to identify the best money managers, which happen to be hedge funds,” says Umberto Boccato, head of alternatives at Mirabaud Asset Management, which is part of the Geneva private bank Mirabaud & Cie.
Mirabaud’s main business is managing money for its clients through its private wealth and institutional asset management businesses. It also has a small brokerage and corporate finance arm. The bank had a total of $26 billion under management at the end of 2012, a slight increase over the previous year, managed...