How to Invest in Hedge Funds: An Investment Professional's Guide
نویسندگان
چکیده
منابع مشابه
An Introduction to Hedge Funds
This report was originally written as an industry white paper on Hedge Funds. This paper gives an overview to Hedge Funds, with a focus on risk management issues. We define and explain the general characteristics of Hedge Funds, their main investment strategies and the risk models employed. We address the problems in Hedge Fund modelling, survey current Hedge Funds available on the market and t...
متن کاملThe duality of option investment strategies for hedge funds
This paper explores the structure of optimal investment strategies using stochastic programming and duality theory in investment portfolios containing options for a hedge fund manager who attempts to beat a benchmark. Explicit optimal conditions for option investments are obtained for several models.
متن کاملIncentives in Hedge Funds
We investigate a game of delegated portfolio management such as hedge funds featuring risk-neutrality, hidden types, and hidden actions. We show that capital gain tax plays the decisive role in solving the incentive problem. We characterize the constrained optimal fee scheme and capital gain tax rate; the fee after taxation must be linear and affected by gains and losses in a low-powered and sy...
متن کاملLiquidity Spillovers in Hedge Funds: Evidence from the Holdings of Funds of Hedge Funds
We examine whether funds of hedge funds (FoFs) engage in costly fire sales of their hedge fund investments during the 2004–2011 period. We find that FoFs experiencing large outflows tend to liquidate holdings in funds with relatively few redemption restrictions (“liquid funds”), even when these funds perform well. A tracking portfolio that buys liquid funds involved in fire sales over the prior...
متن کاملProfit Sharing in Hedge Funds
In a new scheme for hedge fund managerial compensation known as the first-loss scheme, a fund manager uses her investment in the fund to cover any fund losses first; by contrast, in the traditional scheme currently used in most U.S. funds, the manager does not cover investors’ losses in the fund. We propose a framework based on cumulative prospect theory to compute and compare the trading strat...
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ژورنال
عنوان ژورنال: Derivatives Use, Trading & Regulation
سال: 2005
ISSN: 1357-0927,1747-4426
DOI: 10.1057/palgrave.dutr.1840010