MANAGER-SELECTION

We are convinced that achieving value added for institutional investors through active management is possible in almost all relevant asset classes. In particular in the current environment of low interest rates and uncertain risk premiums, „alpha“ can make a valuable contribution to the sustainable achievement of an investor’s objectives. Nevertheless, only the most capable among active managers can reliably deliver a consistent outperformance after costs. Therefore, a sophisticated manager selection process is indispensable.

With our systematic and proven selection process we have been identifying the best asset management companies for the actively managed mandates of our clients since 1998. Our selection process is based on the most recent research findings and is grounded in our experience from more than 300 selected mandates. We apply a scoring methodology which takes quantitative as well as qualitative criteria into account.

Our selection process starts with a clearly defined profile of the mandate, which we develop in close collaboration with our clients according to their individual needs. Based on this profile, we then screen our web-based alphaport®-database to gain a comprehensive market overview and subsequently form a long list of candidates, which we then narrow down to the final beauty contest candidates.

An experienced and motivated team of consultants supports our clients. Our mission is based on the philosophy that the success of our clients is the measure of our own success!

CONTACT PERSON

MANDATE MONITORING

Every selected mandate is actively supervised after inception in order to ensure a continuous alpha generation. We monitor periodically whether the initially identified factors of success are still valid and recommend a change of the selected asset manager if required.

Our goals are aligned with those of our clients since the remuneration for this service is purely performance-based. Consequently, we only receive a fee if the selected manager achieves a value added above the manager specific benchmark after costs.

MANDATE PROFILES

We offer manager selection services for the following profiles of mandates:

Benchmarked mandates in the equity segment (e.g. Asian Equities, European Equities, Global Small Cap Equities) and in the fixed income segment (e.g. Euro Corporate Bonds, Emerging Market Debt, U.S. Municipal Bonds, Global High Yield Bonds) are geared towards the sustainable generation of added value (“alpha”). As a relative benchmark we typically specify a representative market index in collaboration with our clients.

Absolute return mandates should yield a positive return over time independent of the market environment. Our absolute return selection processes are customized to the risk guidelines, individual preferences and restrictions of our clients. Often our clients also prefer a certain strategy type (e.g. Equity Market Neutral, Merger Arbitrage, Global Macro). Typically the benchmark for these mandates is the money market interest rate complemented by a fixed markup.

MICHAEL BILLMANN

Partner

Michael is a managing director and partner at alpha portfolio advisors GmbH. Michael’s primary focus is manager selection. He joined the company in 2005.

Michael studied business administration with a concentration in finance at the University of Münster. He is the author of several articles on the subject of absolute return and manager selection that have been published in various specialist handbooks and journals.

DR. JOCHEN KLEEBERG

Partner

Jochen is a managing director of alpha portfolio advisors GmbH overseeing it’s asset allocation and manager selection services. Before founding alpha portfolio advisors in 1998, Jochen managed the German branch of the consulting firm Barra International where he began his career in 1991. In 1994 he earned a doctorate at the University of Münster under Prof. Dr. Manfred Steiner with a doctoral thesis entitled “The Investment Success of the Minimum Variance Portfolio.” His thesis was awarded first prize for academic excellence conferred by the Deutsches Aktieninstitut (German Equities Institute).

Jochen is the co-editor of the handbooks entitled “Hedge Funds”, “Asset Allocation,” “Portfolio Management” and “Spezialfonds” as well as the author of numerous articles on the subject of asset management.

FLORIAN HERTLEIN

Partner

Florian is a managing director and partner at alpha portfolio advisors GmbH. He is specialized on manager selection. Florian joined the company in 2006.

Florian studied business administration at Ansbach University of Applied Sciences with concentration in finance, banking and investment management. Concurrent to his studies he completed a vocational training in banking.

Florian is the author of several articles on the subject of manager selection that have been published in various specialist handbooks and journals.