Keeping the decisions in-house

'This has been a bold move which some may call arrogant," says Nextra's chief investment officer, Tomaso Corsini. 'We may make a few mistakes because it is a very steep learning curve but the group wanted to develop the expertise in-house.'

From Milan in Italy, he is referring to the fact that Nextra Alternative Investment has chosen not to collaborate with so-called hedge fund advisors ' like many of its competitors ' when preparing the Total Return Fund for high net worth clients. Although Cors