New Program Offers Liquid Alt Strategies
Envestnet|Pmc, the portfolio consulting group of Envestnet Inc., has launched a program designed to help advisors identify high-performing liquid alternative strategies.

The Liquid Alternatives Program will focus mainly on mutual funds and exchange-traded funds while providing guidance in utilizing these portfolios. Through the program, advisors can access PMC's proprietary universe of more than 150 strategies across the alternatives spectrum, including long/short, merger arbitrage, absolute return, global tactical, and others.

The program is a direct response to the growing demand for accessible alternative strategies, as advisors seek solutions for improving portfolio diversification, reducing volatility and enhancing absolute performance in all market environments, according to Envestnet.

"PMC enables advisors to access a range of pre-screened, vetted alternative investment products across a wide range of styles. Our new Liquid Alternatives Program is the latest example of this commitment," said Brandon Thomas, Envestnet's co-founder, managing director and chief investment officer. "Through this program, PMC's alternatives research group strives to help advisors navigate the liquid alternatives landscape, gain greater understanding and comfort around these alternative strategies and build more diversified portfolios."

The PMC Liquid Alternatives Program seeks to identify, evaluate and approve hedge fund-like investment strategies that are available in a liquid, transparent structure, according to Envestnet. Advisors can use the program to access PMC's proprietary universe of more than 150 strategies across the alternatives spectrum, including long/short, merger arbitrage, absolute return, global tactical and others. PMC will add new strategies to the program based on quantitative and qualitative screens, according to Envestnet.

In other news ...

The Spectrem Millionaire Investor Confidence Index rose 15 points in February to 17, reaching mildly bullish territory for the first time since reaching 14 in October 2007, the last time it was mildly bullish. The February advance represents the second-largest gain ever for the index, surpassed only by its 17-point rise in May 2009. "America's wealthiest investors appear to be moving past their lingering post-recession concerns," commented George H. Walper, Jr., president of Spectrem Group, a strategic consulting firm specializing in the affluent and retirement markets.

A new hedge fund, The Praetorian Global Fund Ltd., launched officially on Tuesday from its headquarters in Tortola in the British Virgin Islands, and will focus on new media and clean-tech portfolio companies. According to Brad van Siclen, Praetorian's managing director, the fund will remain exclusive after formation, boasting a $5 million minimum investment and a $1 billion validation. Praetorian plans to pay a management fee of 2% per annum (0.5% per quarter ), an incentive fee of 25% of net asset value appreciation subject to hurdle, calculated as 8% per annum, simple interest return, on the net asset value of the shares, according to the company. Go to for further information.

Survey results from 262 financial advisors released by Advisors Trusted Advisor, a firm in Medfield, Mass., that helps financial advisors and wealth managers organize, manage and grow their businesses, detail ways in which these advisors and managers are most successfully winning new business (referrals from existing clients was number one), and what marketing tactics are most used to build awareness (sponsoring or hosting events that allow for face-to-face networking topped the list, while cold calling and social media-with the exception of LinkedIn, the usage of which has doubled since 2009-tied for last). For further information e-mail [email protected] or call 888-580-9473.

Invesco PowerShares Capital Management LLC, a provider of exchange-traded funds with more than $57 billion in franchise assets, has announced that its new PowerShares Senior Loan Portfolio is anticipated to begin trading March 3 on the NYSE Arca under the ticker symbol BKLN. Based on the S&P/LSTA U.S. Leveraged Loan 100 Index, the fund is the first ETF that provides investors access to a portfolio of senior secured bank or floating rate loans and is expected to issue monthly dividends, according to the company. Go to for more information.

New York-based Millennium Technology Value Partners, which provides alternative liquidity solutions for venture-backed companies and their shareholders, has issued forecasts regarding the future development of private technology companies and the next generation venture capital ecosystem in which many of them will be operating. Among their predictions: $1 trillion of new public market capitalization will be created over the next five years by today's top 500 private technology companies; 2011 will be a record-breaking year for secondary venture capital investments; and the IPO market will have a strong year in 2011. Go to for further information.

Palmer Square Capital Management, based in Leawood, Kan., in partnership with Stamford, Conn.-based Atlantic Asset Management and Montage Asset Management, Leawood, Kan., has announced that its Palmer Square Emerging Manager LP has provided $30 million of capital for a seed investment with Cypress Capital Management, a fundamentally-driven, long/short investment firm based in San Francisco. In addition to securing strategic investment capital, the relationship provides Cypress with access to the distribution channels of Atlantic and Montage. Palmer Square Capital Management provides investment advisory services, proprietary funds and customized allocations focused specifically on alternative investments such as hedge funds and private equity funds.


The J.P. Morgan Global High Yield & Leveraged Finance Conference will be held February 28 to March 2 at the Loews Miami Beach in Miami, Fla. For information, go to the "Investment Bank" tab at and click "Conferences."

The Keefe, Bruyette & Woods 2011 Boston Bank Conference will be held in Boston March 1-2. Go to for further information.

The National Investment Banking Association's "Land of Opportunity Conference" will be held March 2 - 4 at The Westin Beach Resort & Spa in Fort Lauderdale, Fla. Go to for further information.

The MIPIM 2011 Conference will be held March 8-11 at the Palais des Festivals in Cannes, France. The event, featuring a keynote address by world-renowned economist Dr. Nouriel Roubini, will focus on real estate as an investment class and the investment opportunities in Europe. Go to for more information.

The Raymond James & Associates 32nd Annual Institutional Investors Conference will be held in Orlando, Fla., on March 9. Go to "Conferences & Events" at for further information.

TowerGroup, a financial services research firm based in Needham, Mass., in conjunction with the Corporate Executive Board, will hold its 17th Annual Financial Services Conference April 13-15 in Boston, exploring the theme "Sustainable Innovation in Financial Services: Driving Business and Technology to Achieve a Competitive Advantage." For more information, including sponsorship opportunities, go to

Itron Inc. will hold its 2011 Investor Day for analysts and institutional investors on May 26 at The Roosevelt Hotel in New York. For registration information, go to; to access the URL for the Webcast, go to

On The Move

Oak Hill Investment Management of Menlo Park, Calif., has hired David Bizer, former wholesale chief administrative officer for Nomura, as a managing partner. Prior to joining Nomura Bizer was head of fixed income sales for Europe and the Middle East at Lehman Brothers. Prior to that he served on the Council of Economic Advisers under presidents Ronald Reagan and George H. W. Bush.

Hershey Trust Company of Hershey, Pa., has entered into an agreement with Bryn Mawr Bank Corporation under which Bryn Mawr Trust will acquire the entire HTC Private Wealth Management Group. The move will enable Hershey Trust to refocus on its core mission of managing the assets of the Milton Hershey School Trust, according to LeRoy S. Zimmerman, chairman of the HTC Board of Directors. A closing is expected within 90 days.

Iberiabank, the 123-year-old subsidiary of Iberiabank Corporation, and Bank of Florida Corporation have signed an agreement for Iberiabank to purchase certain assets of the Florida Trust Company, a wholly-owned subsidiary of the Bank of Florida Corporation. The Florida Trust Company team will join Iberia Wealth Advisors, the trust and asset management division of Iberiabank.

GMB Capital Management LLC, an investment management firm focused on alternative investment strategies, has changed its name to ClearStream Investments LLC, moved to new corporate headquarters in Boston, and appointed Rohit Vohra, former director of research at Mount Yale Capital Group, as the company's new CEO. Also joining ClearStream are Marco Bitran as portfolio manager and Shioulin Sam as director of quantitative research. The firm currently manages $550 million in assets.

Keats, Connelly and Associates, a wealth management firm with approximately $265 million under advisement that specializes in U.S.-Canada cross-border issues, has selected RBC Advisor Services, a division of RBC Capital Markets LLC, as its new custody platform. Keats maintains offices in Arizona and Florida.

Orion Advisor Services LLC, a portfolio accounting service provider based in Omaha, Neb., that was founded by and for RIAs, has appointed Joel Hurst, previously Orion's institutional sales manager, and Todd Bertucci, former director of sales for Summit Capital, as vice presidents of business development.

-Cort Smith