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Mirroring the Performance of Top Investment ManagersInterview with: Asheesh Advani, Chief Executive Officer, Covestor
Mirroring the Performance of Top Investment ManagersInterview with: Asheesh Advani, Chief Executive Officer, Covestor
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Mirroring the Performance of Top Investment ManagersInterview with: Asheesh Advani, Chief Executive Officer, Covestor

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Asheesh Advani, Chief Executive Officer of Covestor, discusses how private wealth managers can overcome the difficulties of selecting investment managers.

Asheesh Advani, Chief Executive Officer of Covestor, discusses how private wealth managers can overcome the difficulties of selecting investment managers.

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  • 1. www.internationalforumgroup.comMirroring thePerformance of TopInvestment ManagersTo achieve steady growth, private wealthmanagers have to pick money managers with ahistory of low maximum drawdowns, says AsheeshAdvani, Chief Executive Officer of Covestor.Unfortunately, the industry is missing a real senseof accountability and transparency with regard toreturns, so private wealth managers are makingsome of their manager selection decisions withtheir eyes half closed. The Covestor platform couldbe part of the solution, according to Advani.Covestor attended the recent IFG WealthManagement Forum 2013. Here, Advani describesCovestor’s platform and how it addresses issuestroubling the private wealth management industry.IFG - How can private wealth managers achievesteady growth that outperforms the S&P 500?Advani - My recommendation is to focus on pickingmanagers who have a history of low maximumdrawdowns. It is simple math. When the market isin deep decline, it is easy to dig yourself into a holethat is hard to come out of. Losing 30 per cent of a$10 million portfolio in a rough patch means youwill need a 42 per cent gain just to break even.With an average of six per cent gain a year, you willneed six years to get back to where you were.IFG - Tell us more about the Covestor platformand what issues it addresses.Advani - We are a marketplace for moneymanagement talent. Covestor allows investors toshop for money managers, based on the metricsthey consider important.Wealth managers have tried to come up with theirown solutions to the accountability problem, withseeding programs for example, but we haveaccelerated that and made it much easier andcheaper for them to access the information theyneed. They can now compare managers with themetrics they want and get access to top managersthey would not have found on their own.IFG - What metrics should private wealthmanagers look for?Advani - Everyone has a different set of goals andinvestment philosophies, so we try to providemany metrics of value. We have volatility andperformance measures, including verifiedhistorical performance metrics. This might be anobvious one, but I am always amazed when aportfolio is presented as having beaten themarkets by a certain date, when the story isdifferent if the date is changed. It is important tocheck how a manager has performed relative tothe market or benchmark on different dates.IFG - What are the benefits of synched co-investing?Advani - Our technology allows private wealthmanagers to replicate the trading activities ofprofessional and experienced individual investorsin real time. In order to succeed, a portfolioInterview with: AsheeshAdvani, Chief ExecutiveOfficer, CovestorAsheesh Advani, ChiefExecutive Officer ofCovestor, discusses howprivate wealth managerscan overcome thedifficulties of selectinginvestment managers.FOR IMMEDIATE RELEASEIFG WEALTH MANAGEMENT FORUMTHE PREMIER EVENT FOR NORTH AMERICAN FAMILY OFFICESOctober 21-22, Floridawww.ifgwealthmanagement.com
  • 2. www.internationalforumgroup.comIFG WEALTH MANAGEMENT FORUMTHE PREMIER EVENT FOR NORTH AMERICAN FAMILY OFFICESOctober 21-22, Floridawww.ifgwealthmanagement.commanager should be good at presenting himself to the industry, but many of the best investors are not good at doing so. We givewealth managers access to these people, who can focus more on investing than on selling themselves to raise capital.Salpi BalianPress Manager – IFGpressifg@ifgemea.comFor more information: pressifg@ifgemea.comAbout the IFG Wealth Management Forum 2013IFG’s Wealth Management Forum 2013 provides a unique platform for investment decision makers from single and multi-family officesto engage in vibrant benchmarking sessions and gain practical solutions and best practices to achieve optimal portfolio returns. Theupcoming event will take place in Florida, October 21-22, 2013.For more information please send an email to pressifg@ifgemea.com or visit the event website at www.ifgwealthmanagement.comAbout International Forum GroupInternational Forum Group is a world-leading business information company, organizing exclusive, invitation-only gatherings ofbusiness leaders across multiple industry sectors.Providing a platform for senior executives to build mutually beneficial business partnerships, International Forum Group hasdesigned an unparalleled system for matching the core buying needs of the world’s largest organizations with the best solutionsavailable in the global marketplace. Empowering all our clients with the knowledge they need to lead in their respective fields is afundamental goal of all our forums.For more information, please visit: www.internationalforumgroup.comAbout CovestorCovestor brings the clarity and efficiency of an online marketplace to the world of money management. Investors can compare andselect from a transparent marketplace of money management talent that includes top performing portfolio managers and successfulinvestors. Covestor’s Portfolio Sync technology automatically replicates trades, providing clients the convenience of “set and forget”functionality and the protection of Covestor’s proprietary trade filtering.For more information: www.covestor.comAll rights reserved. The above content may be republished or reproduced. Please notify prior to usage at pressifg@ifgemea.com

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