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Net Return Asset Management
Net Return Asset Management is a New York-based fund of hedge funds constructing multi-manager portfolios for institutional and high-net-worth investors.
Net Return Asset Management
Net Return Asset Management structures portfolios that allocate across multiple external hedge fund managers. The firm targets a blend of established and emerging hedge fund strategies, aiming to deliver uncorrelated returns relative to traditional equity and fixed-income benchmarks. The firm's approach involves manager selection, due diligence, and ongoing risk monitoring across strategies that historically include long/short equity, global macro, event-driven, and relative value arbitrage. Portfolio construction emphasizes diversification across strategy types, geographic exposures, and individual manager risk profiles. Based in New York, the firm operates in a competitive hub for hedge fund allocators. Without publicly disclosed AUM figures, its scale relative to peers remains undefined. The fund-of-funds structure provides investors with a single access point to a diversified hedge fund portfolio, which can be particularly relevant for smaller institutions seeking exposure to managers with high minimum investment requirements. Structurally, the firm functions as a traditional fund of hedge funds rather than a direct investment platform. This model layers an additional fee structure—management and performance fees at both the underlying fund level and the fund-of-funds level—which has been a focal point of industry scrutiny over the past decade in allocator decision-making.
General information
Firm type
Hedge Funds
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Sector focus
Frequently asked questions
What investment strategies does Net Return Asset Management cover?
The firm allocates across a range of hedge fund strategies. Publicly available references to its approach indicate coverage of long/short equity, global macro, event-driven, and relative value arbitrage, among other categories. The multi-strategy framework is designed to reduce single-manager risk while targeting returns uncorrelated to broader markets.
How does Net Return Asset Management source its underlying hedge fund managers?
As a fund of hedge funds, Net Return relies on internal manager research and due diligence processes to identify and monitor external managers. Selection criteria typically include track record evaluation, operational due diligence, risk management assessment, and strategy fit within the broader portfolio construction framework. The firm does not publicly detail its specific sourcing channels.
Does Net Return Asset Management manage direct investments or only fund commitments?
The firm operates as a fund of hedge funds, meaning it invests in external hedge fund vehicles rather than making direct investments in securities or operating companies. This indirect structure is its defining operational characteristic, pooling client capital into a portfolio of underlying hedge fund managers.
How is Net Return Asset Management different from a direct hedge fund manager?
Unlike a direct hedge fund manager that makes its own investment decisions in securities, Net Return's role is that of an allocator—selecting and combining multiple external hedge fund managers into a single portfolio. This fund-of-funds model adds a layer of diversification and manager oversight but also introduces an additional fee layer, which has been a key point of differentiation and debate in the industry.
What is the firm's known posture on fees and liquidity?
Like most fund of hedge funds, Net Return's structure implies that investors face a blended fee arrangement—paying management and performance fees to both Net Return and the underlying hedge fund managers. Liquidity terms are typically determined by the least liquid underlying fund, and specific details would be outlined in offering documents. The firm has not publicly campaigned for or against recent industry trends toward lower-fee structures.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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