Funds of hedge funds performance, assessment, diversification, and statistical properties

• Other Authors: Gregoriou, Greg N. 1956- (Editor)
• Format: Book
• Language: English
• Published: Amsterdam Butterworth/Heinemann 2006
• Series: Quantitative finance series
• Subjects: Risk management > Mathematical models; Investment analysis > Mathematical models; Hedge funds > Evaluation
• Online Access: Click Here to View Status and Holdings.
• Physical Description: xxix, 466 pages illustrations 24 cm
• Bibliography: Includes bibliographical references and index
• ISBN: 9780750679848; 0750679840

With about $450 billion in assets, funds of hedge funds are the most recent darling of investors. While hedge funds carry high risk for the promise of high returns they are designed for the very rich and for large institutional investors such as pension funds. A Fund of Hedge Funds (FOF) spreads investments among a number of hedge funds to reduce risk and provide diversification, while maintaining the potential for higher than average returns. Odds are that some pension fund of yours is invested heavily in these products, and more recently these FOFs have been opened to more and more individual investors in offshore jurisdictions with lower minimum entry levels. Since this is a new and extremely fast-moving financial phenomenon, academic research has just begun in earnest, and this is the first book to present rigorous academic research by some of the leading lights in academic finance, carefully analyzing the broad array of issues involved in FOFs.