Thalia has tailored the Haussmann philosophy to bloom while others have wilted

Thu Sep 6, 2012


Lugano-based firm thrives on conventional FoHF form, managing a three to five-year view


By Claire Makin

Marco Ghiringhelli
Maggie Rokkum-Testi
At a time when many fund of hedge funds managers are scrambling to re-invent their businesses, Thalia is sticking to the very traditional view that talent and conviction are what matters in the hedge fund world. Lugano-based Thalia manages money on a three to five-year time horizon, and some of its manager relationships stretch back to 1999. As well as taking a long-term view of working with managers, Thalia focuses primarily on qualitative research to pick the best ones and uses quantitative analysis far more selectively than many of its peers. "The structure of markets has changed. That makes it harder and harder to assess whether a manager is able to ride out a crisis," says Maggie Rokkum-Testi, Thalia's chief investment officer.

On this basis, complex numerical calculations cannot provide fresh insights into whether a manager will be able to sustain his returns...

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