Corona draws out the tide and reveals skimpy swimwear as funds proved less safe than their names suggested
The corona crash has revealed safe funds that are not safe, quant-strategies breaking down, hedge funds that are not hedged and all-weather products in desperate need of umbrellas. Once again, it has been revealed that we in the finance industry know a lot less about how the world is turning and where markets are going in the short term than we like clients to think - and that some product names are totally misleading.
BY FRANK HVID PETERSEN, FOUNDER OF EARLYBIRD RESEARCH AND PARTNER AT INTEGRITET INVEST
March 2020 was one of the cruelest months ever for global financial markets and not least asset managers trying to navigate the extremely volatile markets. Many were maybe not swimming entirely naked, but when the tide went up last month, a lot of portfolio managers got their clothes ripped off.
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