Hedge Funds and Managed Futures: The Handbook for the Institutional Investor

  • ID: 348154
  • Book
  • 350 Pages
  • Incisive Media
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The phenomenal growth of hedge fund investments into a $1.3 trillion industry has brought with it many challenges and provoked much debate. This dynamic industry continues to thrive despite the obituaries commentators have regularly written for it over the past decade.

Hedge Funds and Managed Futures: The Handbook for the Institutional Investor is a measure of the growing sophistication and importance of the sector. The depth and range of topics are testament to the diversity of the industry. It evaluates four key topics from a critical perspective:

- benchmarking and performance measurement
- risk management
- portfolio management
- asset allocation

This multi-contributor handbook offers valuable insights into the needs of investors. It covers hot topics such as: Managed Accounts, Portable Alpha and Active Value Investing and stresses the importance of working in partnership with your clients to develop a wide range of products and looks at how to tailor hedge fund investments to specific needs.

The high profile contributors are a mixture of leading finance academics, industry commentators and practitioners. The independence of their views and the academic-professional balance reflects an intellectual maturity and confidence which is essential in maintaining a healthy industry.

Your ability to generate alpha and structure genuinely innovative products will be paramount to the growth of your business. Based on new research and analysis this informative and timely book will provide you with practical and innovative ideas for successful institutional investment.

About the Authors:
Greg N. Gregoriou is Associate Professor of Finance and Coordinator of Faculty Research in the School of Business and Economics at State University of New York (Plattsburgh). He is the hedge fund editor for the peer-reviewed journal Derivatives Use, Trading and Regulation and editorial board member of the Journal of Wealth Management. He has authored over 60 articles on hedge funds, and managed futures in various US and UK peer-reviewed publications, including the Journal of Portfolio Management, Journal of Futures Markets, European Journal of Finance, Journal of Asset Management, European Journal of Operational Research and Annals of Operations Research.

Dieter G. Kaiser is responsible for institutional research at Benchmark Alternative Strategies (a fund-of-hedge-fund-management company) in Frankfurt. He started his professional career in the structured products sector at Dresdner Kleinwort Wasserstein. He later joined Crédit Agricole Asset Management, where he was responsible for the fund-of-hedge-funds Marketing Support within the Institutional Sales & Marketing division. He has written several articles on alternative investments and is the author of Hedge Funds – Demystifying an Asset Class – Structures, Opportunities, Risks and co-author of Alternative Investment Strategies: Insights into the investment techniques of hedge fund managers. He is also co-editor of the Handbook Alternative Investments.
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1.Hedge funds: what are they, how are unregulated hedge funds regulated and how do they view the relationship?
Mark Berman, Threadneedle Asset Management Limited
Andrew Hougie, Dechert LLP

2.Hedge funds and prime brokers: the legal relationship from the U.S. perspective
Karrie McMillan and Larry Bergmann
Willkie Farr & Gallagher LLP

3.The hedge fund-prime broker relationship from the industry perspective
Richard R Lindsey, Bear Stearns Securities Corporation

4.“Related parties” and their role in the relationship
Bruce Gardner, SJ Berwin

5.The legal underpinnings of the relationship: the “level playing field”
Mark Berman, Threadneedle Asset Management Limited

6.The trading and economic factors driving the relationship
Paul Dentskevich, HSH Nordbank AG
Christopher Eyssell,Rothschild
Neil Roylance, Threadneedle Asset Management Limited

7.Corporate governance by and for hedge funds
Barry Barbash, Willkie Farr & Gallagher LLP

8.Key tax and accounting issues
Robert Mirsky, Deloittes
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“Hedge Funds and Managed Futures offers the reader a critical, yet constructive review of a number of important and timely topics. Critiques of conventional wisdom should prove valuable for both seasoned as well as new participants to the hedge fund industry. The chapters provide important insight on a number of key issues making this book an important asset to every serious investor or researcher."
William K.H. Fung, Visiting Research Professor of Finance, London Business School

"For institutional investors and researchers who want to gain insight and in-depth knowledge about investing in hedge funds and CTAs, this book is a must. The editors have done an outstanding job of gathering contributions of great practical use from internationally known academics and practitioners. The articles provide rigorous empirical analysis, sound methodologies and new evidence why alternative investments are more and more gaining momentum.”
Campbell R. Harvey, J. Paul Sticht Professor of International Business, Duke University

"I think this book will prove to be very valuable to institutional investors who are interested in hedge funds and managed futures investing. The topics in this book cover virtually all aspects of dealing with hedge funds from an institutional perspective. It is also timely, as the current trend is that more and more institutional investors will start to examine to invest in hedge funds and managed futures. This book also provides a unique blend between academic theory and practitioner's real-life experience."
Dr. Pieter Jelle van der Sluis, Senior Portfolio Manager, ABP Investments

"This Handbook collects unique and useful insights into many of the core issues facing hedge fund and managed futures investors. The editors have gathered contributions from a broad range of leading academics and practitioners who are at the forefront of research in the alternative investment arena. This Handbook can be helpful to both investors and their advisors as they navigate through the complexities of the hedge fund world."
Richard Meckler, President and CIO, LibertyView Capital Management
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