
1 JUL, 2026
By Joanna Piwko from RankiaPro Europe

Michael Barroilhet is responsible for institutional clients across France, Benelux, and the UK. He joined FERI in 2021 as an analyst in the hedge fund team managing over €2 billion in absolute return funds, before moving into his current role to grow FERI's international footprint. He began his career in 2018 at ED&F Man (demerged from Man Group), a leading agricultural commodities trading house in London, where he worked as a research analyst supporting physical and derivatives sugar traders.
I grew up in a small beach town on the Côte d’Azur, where many people I looked up to were connected to investments. That sparked my curiosity, and from where I stood, finance felt like a different, exciting world.
My early career was actually in hospitality and beach restaurants along the Riviera, which taught me the client side: being service-oriented, knowing products inside out, and building relationships with warmth and a “solar” touch. That foundation still shapes how I work with clients today.
The markets perspective came through two formative experiences. First as an analyst at one of the world's largest sugar traders, where physical and derivatives trading taught me to read markets and connect the dots. Then in hedge fund selection at FERI, analysing absolute return strategies with advanced quantitative tools. That's where I learned to think like an investor and a fund selector, a lens I bring directly to client work.
Rather than one person or moment, it was the environment and the people along the way. Being exposed to heads of trading and leading hedge fund managers showed me the level of analytical depth, conviction, and continuous learning this industry demands, and that still inspires me today.
Calling a client when your fund is down 30% matters more than calling when it's up 30%.
That's where trust is built. Clients don't expect every strategy to perform in every market environment, but they do expect honesty and reliability.
Here’s what I’m seeing, across both institutional and wholesale clients, and where I’m helping:
First, demand for uncorrelated strategies, such as hedge funds and liquid alternatives, has clearly picked up. Strong performance over the last three years, combined with the rise in bond-equity correlation, has renewed investor interest. Today’s macro environment, marked by geopolitical risk and persistent uncertainty around rates and inflation, is only adding to demand for market-neutral strategies and skilled tactical managers.
Second, clients are caught in a bind: overwhelmed with products on one hand, under pressure to narrow their buy-lists on the other. A solution must earn its place by delivering demonstrable value for both our client and their end investors. That's not easy.
Consistent “alpha” is very hard to find over longer time horizons, and passive exposure leaves no room to outperform after fees. So strategies that pair core market exposure with a return-enhancing layer fill that gap: quantifiable, repeatable sources of excess returns that address a real structural problem.
Client expectations differ more in style than in substance. The analytical framework to assess strategies is broadly consistent across regions (quantitative and qualitative). Where differences emerge is in risk-reward profiles, which vary from client to client. Cultural preferences vary too, some value face-to-face time, others prefer less proximity.
The key is separating short-term noise from the long-term investment rationale, and being transparent about both. When performance is difficult, clients need to understand what's driving it: temporary regime or structural issue.
Two trends stand out.
The first is AI across the asset management value chain, research, portfolio construction, operations, client reporting. It won't replace human judgement, but it will sharpen efficiency and decision-making.
The second is the growing sophistication of end investors and financial education. Access to financial information has never been easier, driven by social media, digital platforms, and of course AI as a learning tool. But more informed doesn't always mean better informed. For asset managers, that raises the bar on education, clarity, and transparency.
I stay informed through daily podcasts, financial news (TV, social media, Bloomberg), and regular dialogue with our portfolio managers. In my role, the response to market moves is to understand what the current environment means for our strategies, and translate that into what it means for each client's allocation.
I'm quite nerdy about music, good food, and dining experiences, the latter naturally helps on the client relationship side. Some of the best conversations happen outside the office!
Sport is equally important. I grew up in a family of professional athletes and earned a football/soccer scholarship in the US. The athlete mindset never really left me: consistency, composure under pressure, the drive to compete. These days it's more about staying in shape and having fun: gym, five-a-side, golf, and tennis/padel.