(EP.99), Patrick O’Shaughnessy – O'Shaughnessy Asset Management (First Meeting, EP.01), Thomas Russo - All About Berkshire Hathaway (EP.89). If you can pick talented managers, incentive them properly and target the right area, alpha, says Kraus, is still there for the taking. Our conversation covers Peter’s career at Goldman Sachs and AllianceBernstein, the structural problem of incentives in the asset management industry, and Peter’s attempt to disrupt that structure. By using this site I agree to the Terms and Conditions. Neither Bloomberg nor Barclays approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith. He ultimately decided that a successful culture of performance-linked fees that properly aligns the manager and client could only occur in a new firm built from scratch. 154), Michael Schwimer - Moneyball as an Investment Strategy (EP.72), Dan Ariely – Investing in Irrationality (EP.93), Michael Mauboussin - Who's on the Other Side? As such, his consistent banging of the drum about the structural considerations of ETFs isn’t a case of a heavy-hitter talking their own book for economic gain. Here’s my recent conversation with Kraus in Aperture’s New York office: Gregg Schoenberg: What was the overarching thesis that led you to start Aperture? Peter Kraus takes a look at recent structural and behavioral changes and how they might affect future demand and revenues. Brought to you by: Selective Search, Northern Trust Front Office Solutions, and Colmore|. For those not familiar with the lingo, I’ll translate: Kraus’s new company Aperture, which has just launched a new mutual fund offering (yes, you read that right: a new financial start-up is launching mutual funds in 2019), is seeking to create a true blue pay-for-performance model that emphasizes beating a market benchmark, not just tying it to an index as most passive funds do. Why not offer a slick ETF, give it a cool name and make it “smart” so as to add some spice? Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. Nobody has done that.” That’s an energized quote from legendary Wall Streeter Peter Kraus. Bloomberg or Bloomberg’s licensors, including Barclays, own all proprietary rights in the Bloomberg Barclays Indices. Milan/New York City – Assicurazioni Generali SpA, one of the world’s leading insurance and asset management groups and Aperture Investors today announce the launch of an innovative new asset management company with a disruptive revenue model led by Peter Kraus, the former Chairman and CEO of AllianceBernstein (AB) and Global Co-Head of Goldman Sachs’ Investment Management … Aperture’s Peter Kraus: We want to be the Netflix of asset management By Margaryta Kirakosian 26 Sep, 2019 Asset management should move toward aping the on-demand nature of streaming services to regain client trust and rethink cost structures and distribution models, according to Peter Kraus, chief executive officer of Aperture Investors. To withdraw consent or to learn more read our Cookie Policy. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Peter Kraus is the Chairman and CEO of Aperture Investors, a $5 billion asset manager he founded after a storied four-decade career on Wall Street, including heading the Investment Management Division at Goldman Sachs and serving as Chairman and CEO of AllianceBernstein.
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