According to Morningstar, Inc. and Barron's fifth annual national survey regarding alternative investments among institutions and financial advisors published in June 2013, liquid alternative products have grown significantly in recent years. The survey found that many investors are recognizing that alternative mutual funds are a unique tool to diversify portfolios, and that more financial advisors are incorporating liquid investments into client portfolios. The survey noted that "mutual funds are becoming the dominant vehicle used by both advisors and institutions to access the majority of alternative strategies." Regarding alternatives more broadly, the survey found that only 4 percent of advisors said their typical client had no money in alternative investments, down from 17 percent in the 2008 survey.About Bradley Sussman Bradley Sussman has been serving as a Managing Director at Merrill Lynch, where he established hedge fund strategic allocations, model portfolios and provided accompanying advice and guidance to investors. He has been a voting member of the alternative investments investment committee overseeing hedge funds, private equity and third party fund of funds. He has also been Merrill Lynch’s head of non-traditional mutual fund due diligence, leading fund sourcing and research, creating and managing both model and live portfolios and publishing a monthly non-traditional mutual fund guide. Before Merrill Lynch, Mr. Sussman was a Portfolio Manager at Ivy Asset Management for over a decade and was responsible for managing $3.5 billion across 18 hedge fund of funds portfolios. At Ivy, he also served as a member of the Investment Risk Management Committee and Product Development Team. Prior to Ivy, Mr. Sussman worked as Vice President of Research for Bear Hunter Specialists. He began his career as a Financial Advisor Associate at Sanford C. Bernstein & Co., where he serviced accounts for high net worth individuals, families, foundations, trusts and pension funds. He received a BA in Political Science from Yale, and is a CFA and CAIA Charter Holder.
About Ramius LLCRamius is an alternative investment platform offering innovative products and solutions across the liquidity spectrum to institutional and private clients. Founded in 1994, the firm offers investors access to strategies to meet their unique needs including small-cap activism, healthcare royalties, customized solutions, event driven equity, real estate, long/short credit and managed futures. Ramius attracts talented in-house and affiliated investment teams and provides them with institutional infrastructure, proven sales and marketing and know how. The firm is committed to the success of its global investor base and invests a significant portion of firm capital alongside clients. Ramius manages over $9 billion in assets. About Cowen Group, Inc. Cowen Group, Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, and sales and trading services through its two business segments: Ramius and its affiliates make up the Company’s alternative investment segment, while Cowen and Company and its affiliates make up the Company’s broker-dealer segment. Ramius provides alternative asset management solutions to a global client base and manages a significant portion of Cowen’s proprietary capital. Cowen and Company and its affiliates offer industry focused investment banking for growth-oriented companies, domain knowledge-driven research and a sales and trading platform for institutional investors. Founded in 1918, the firm is headquartered in New York and has offices located in major financial centers around the world.