What resources to push/ask PM for?
Hi guys,
Hope everyone's having a good weekend!
I'm gonna be joining a $120M long biased HF FT soon. The PM is very smart, Stanford alum and worked and some well renowned funds before starting this as a family office 15 years ago (only starting accepting outside capital end of 2024). We focus on small/micro cap stocks so he's not big on data/resources yet. He did say we could get some more if I felt so (not sure if he meant it, obv). The fee structure is 2/20, for context.
Right now, we have Alpha Sense. What resources should I push for him to get:
- Claude enterprise (I studied CS at a top college, so I have a decent enough background to get it running)
- Bloomberg/Factset
- Sell side research (He's not big on it, but I usually read them heavily for sector reports/initiations)
- Secotr-specific 3P data (far-fetched since we probably cannot get 'all of it' and I don't know enough to know which would be most useful)
Would really appreciate any insights/thoughts and whether or not I should wait a few months after starting to actually put this across to him. Thanks a lot in advance for the help!
For $120M of AUM, your budget is going to be tight. If you can get Claude enterprise + Bloomberg that's half the battle. I doubt you'll be able to afford alt data that creates meaningful alpha with your budget.
Doubt you're going to get much sellside access but you could sign up for an etrade account to get MS for free (can't look back in history though).
StreetAccount. AlphaSense and Bloomberg are the basics.
But at that size you’re not going to get much. Brokers will want at least around $30k-$80k for minimal access / read only. Pay hundreds of thousands for better access. You’re going to want to pay the firms that cover small cap names.
Pay millions for top tier service.
Alt data is tough if you’re covering a lot of names when you may use it sometimes or you may not. Then it becomes a waste of money.
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