Heard Capital was profiled in the April 2 edition of Emerging Manager Monthly.
An excerpt of the article can be found below, and the full article is available here.
Listening Brings Heard Capital To New Opportunities
Emerging Manager Monthly, April 2020
William Heard prefers to listen. That trait has greatly benefited him and his eponymous firm Heard Capital over the past nine years not only from an investment standpoint, but in managing strategies attractive to institutional investors.
The firm launched a commingled high conviction long-only fund last year that only receives incentive fees when it outperforms its Russell 3000 Index benchmark. The $3.6 billion Kresge Foundation was a key part of that process and invested last summer.
“They were foundational because they allowed us to come to market with something different,” Heard said. “This is a vehicle that is designed to align interests on day-one.”
The strategy’s performance-based fee provides a unique fee structure “at a time when investors are worried about fees and paying for beta,” Heard said.
“It is really a testament to obviously not just hard work, because everyone works hard, but the differentiated process and skill. We have the ability to show people that this is not just beta. We can show them how we generate alpha and show them how we make decisions overtime that generate excess return or protect capital depending on the vehicle,” said Priya Kaftan, head of investor relations and product strategy at the Chicago-based firm.
The full article can be found here.