Hedge Funds

Hedge Funds - Articles & White Papers

Hedge fund articles and white papers: both hedge fund research for investors and reports for hedge fund industry professionals. Hedge fund surveys have proved particularly popular in this section, with the likes of PwC, KPMG, Deloitte and Towers Watson producing some particularly fine reports on the state of the alternative asset industry and business strategy for hedge fund managers. Reports on the hedge fund industry tend to cover themes such as hedge fund marketing and branding, hedge fund product design, and hedge fund regulation and compliance. Other hedge fund reports consider business opportunities in areas such as liquid alts or managed accounts. The most popular research for hedge fund investors includes reports on asset allocation to hedge funds, hedge fund activism, and hedge fund manager selection and due diligence (how to capture alpha in emerging markets hedge funds, for example, and whether buying into top-performing hedge funds is a good strategy). As you'd expect, many reports in this section examine hedge fund returns in some detail, for instance, exploring hedge funds return expectations, dissecting the sources of hedge fund returns, explaining hedge fund replication, examining survivorship bias in hedge fund indices, and unpacking hedge fund performance fees. Also popular are academic and professional white papers explaining hedge fund styles and strategies, managed futures, systematic macro, long/short funds, statistical arbitrage, global macro, short vol strategies and funds of hedge funds.
  • QMA (Quantitative Management Associates)

    Investing in Liquid Alts: An Outcomes-Based Approach (QMA, Apr 2017)

    As more investors seek new sources of returns less correlated with the downward swings of the equity and bond markets, liquid alternative strategies have emerged as one of the more viable, and popular, investment options. Investors and their financial advisors are conditioned to select managers based on the asset class they invest in, frequently a less important consideration when ...

    • Professional
    • Views: 743
    Read more
  • Michael Page

    UK Front Office Banking & Asset Management Salary Survey 2017

    This 22 page report from Michael Page details average remuneration (salary plus bonus) for a range of front office banking and fund management positions, including compensation for asset managers, quants, investment strategists, equity analysts, multi-asset portfolio managers, debt and credit analysts, and those in research/strategy and sales/trading roles in the UK. The ...

  • KPMG

    Growing Up: A New Environment for Hedge Funds (2015)

    • 16 Mar 2015
    • Company: KPMG

    This thirty page report is based on a survey of over one hundred hedge funds. The report explores investment compliance, hedge fund product design and hedge fund marketing. It suggests that as fee and fund structures become increasingly customized, hedge funds will position themselves more and more as solution providers.

  • QMA (Quantitative Management Associates)

    The Long and the Short of It: The Quant Shorting Advantage (QMA, 2016)

    Active extension, equity long-short, and equity market neutral products can be attractive for investors at any particular time, given investors' varied investment objectives and needs. That said, each of the three categories of shorting-enabled products can help address distinct issues facing investors today. QMA’s paper describes how short selling can allow investors to ...

  • EDHEC-Risk Institute

    Factor Investing and Risk Allocation: From Traditional to Alternative Risk Premia Harvesting (EDHEC, 2016)

    This comprehensive 62-page paper by EDHEC-Risk Institute examines factor investing beyond traditional factors. It seeks to analyse what the best possible approach is for harvesting alternative long/short risk premia. There is a growing interest in factor investing among sophisticated institutional investors. The replication of hedge fund factor exposure appears to be a very ...

    • Professional
    • Views: 1101
    Read more
  • 101 Formulaic Alphas

    The authors of this Dec 2015 paper present explicit formulas (including computer code) for 101 real life quant trading alphas. They examine the results, detailing also the average holding period, and examining the dependence of these alphas upon volatility and turnover.

  • Hedge Funds: A Dynamic Industry in Transition (2015)

    In this paper, the authors argue that apparent hedge fund returns are halved by survivorship bias and backfill bias. Andrew Lo, Mila Getmansky and Peter Lee provide their analysis of the latest research on hedge funds. They also include the latest empirical evidence for the industry. The paper is written from a number of different perspectives: the portfolio manager's, the ...

    • Professional
    • Views: 1258
    Read more
  • Merrill Lynch Wealth Management

    Hedge Fund Investing: Manager Selection and Due Diligence (Merrill Lynch, 2015)

    Hedge fund investments, which have in the past provided strong risk-adjusted returns uncorrelated to traditional investments, can potentially add significant value to an investor’s portfolio. These benefits can be gained through careful due diligence and skillful manager selection because hedge fund manager returns are so widely dispersed. To help qualified clients and ...

  • Morgan Stanley

    An Outcomes-Oriented Approach to Alternatives

    Transformational forces are mixing and in the process necessitating a new approach to asset allocation guidance, particularly for alternative strategies and asset classes: the normalization of interest rates; the numerical growth in lower-cost alt investments; the necessity of introduction of alternatives to Financial Advisors and clients because of past disillusionment in reaction ...

  • Willis Towers Watson

    Global Alternatives Survey 2017: Including the top alternative asset manager rankings (Willis Towers Watson)

    This 95-page report presents the findings of the 2017 Global Alternatives Survey by Willis Towers Watson. Section 1 of the report delves into recent trends and activities in different alternative asset classes, for example, hedge funds, private equity, real estate, infrastructure, and more. Section 2 lists the Top 100 alternative asset managers by AuM around the world.

  • William Blair

    The Case for Macro (William Blair, July 2017)

    Macro investors adopt a top-down view of the world in which they analyze broad trends to allocate risk across asset classes, geographies, sectors, and currencies—resulting in a liquid strategy that aims to deliver strong risk-adjusted returns without having to rely on rising equity or bond markets. In this paper, William Blair's Dynamic Allocation Strategies team ...

  • The Boston Consulting Group

    The Rise of Alternatives and Long-Term Investing: Strategic Asset Allocation for Large Institutional Investors (BCG)

    This report by The Boston Consulting Group provides guidance for large institutional investors on strategic asset allocation to alternative assets and thinking long-term. It examines the recent investment strategies and management practices of leading institutional investors around the world.

  • Goldman Sachs Asset Management

    Liquid Alternative Investment Maps (GSAM, March 2017)

    The GSAM MAPS is designed to help investors better understand and allocate to liquid alternatives, or alternative mutual funds. In this analysis, we narrow down the vast universe of liquid alternatives to the funds that may better provide the differentiated return and risk characteristics of hedge funds. We then categorize those ...

  • Credit Suisse

    Shifting Tides: The 2017 Credit Suisse Global Survey of Hedge Fund Investor Appetite & Activity

    The 2017 Credit Suisse Investor Survey, Shifting Tides, is released at a transitional time for the hedge fund industry. Despite a challenging year in 2016 replete with media headlines forecasting a decline for the industry, global hedge fund assets have now actually reached an all-time high water mark of $3.018 trillion, according to Hedge Fund Review.

  • Robeco

    Hedge fund bets show Low Volatility is still far from overcrowded (Robeco, Jan 2017)

    Thorough analysis of hedge fund data shows that, despite their flexible approach to investing, these funds tend to bet strongly against the low-volatility anomaly. This suggests that limits to arbitrage are not the main reason for this anomaly and that the low-volatility trade is still far from being overcrowded.

    Speed read

    • Hedge funds tend to invest more in ...

  • bfinance

    The Changing World of Alternative Beta (bfinance, 2016)

    When it comes to defining and implementing an alternative beta allocation, a great deal can fall through the cracks between theory and practice. Execution differences, asset-driven erosion of premia, fit with the existing portfolio and hidden costs are only a few of the obstacles that investors must navigate in an increasingly broad and complex sector. This paper seeks to provide ...

Pages

Feedback