PRIVATE bankers espoused the value of alternative investments when interest rates were ultra-low some years ago. They continue to push alternatives today when rates have climbed steadily and substantially.
But are alternatives – such as hedge funds, private equity and private debt – all they are cut out to be? How appropriate are they for individuals who qualify as accredited, but whose total portfolio may be far less than US$10 million?
Under Singapore’s rules, those who have net financial assets of at least S$1 million or income of at least S$300,000 in the last 12 months qualify as accredited investors.
Recently, Gerard Lee, retired former chief executive of Lion Global Investors, observed...
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