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Article: Managed Futures Becoming Tougher Sell After Solid '08.(Investment Products)(Philip Moses from First Federal Bank (Tallahassee, Florida))(Chris Butler from Raymond James)(Bob Franklin from Wells Fargo & Co.)
- Article from:
- American Banker
- Article date:
- October 6, 2009
- Author:
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Byline: Dave Lindorff
In 2007, Philip Moses, a Raymond James adviser at First Federal Bank of Florida in Lake City, had a local physician as a client who wanted to diversify his $1.5 million portfolio.
Moses, long an advocate of alternative investments, suggested a hefty 20% allocation to alternatives, including structured products, a multistrategy hedge fund and a multiadviser managed futures fund.
When equities and debt markets declined a year later, the client's alternative holdings "held up, just like they were supposed to," Moses said. Among them, the top performer was a 5% stake in a managed futures fund. "It moved up smartly as everything ...