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Alternative Investments - January 01, 2008

Advanced Hedge Fund Investing - The Lhabitant and Martellini Seminar

Meeting The Challenges of Hedge Fund Institutionalisation

Fuelled by massive investments on the part of funds of funds and institutions, hedge funds have grown from a cottage industry catering to the needs of private wealth to a trillion dollar business in which over 10,000 managers vie for the attention of global institutional investors.

The significance of alternative investments within institutional portfolios is imposing new responsibilities and challenges upon hedge funds, funds of funds and institutional investors.

To remain on the map in this brave new world, managers will have to control risk closely and back up their claims of value creation with quantitative reports on relative performance and factor exposure.

Since hedge funds cannot be considered in isolation, successful players will be those who are able to advise investors on how to optimally incorporate alternative complements into their core and satellite portfolios.

Evidence that the average fund performance is explained mainly by passive exposure to risk factors as minor pure-alpha benefits from asset picking are offset by poor beta timing means that a disciplined approach to optimising the beta benefits of hedge funds is called for. It also suggests that fund managers who want to protect against the threat of low-fee passive vehicles and the new hedge-fund clones need to implement the latest techniques to deliver outperformance through improved selection, dynamic alpha and beta management and active style allocation.

Designed and delivered by two leading experts in the theory and practice of hedge fund investing, this intensive seminar equips participants with a workable knowledge of the state-of-the-art techniques for analysing the performance and risks of alternative investments and optimising hedge fund benefits both at the fund level and for end-investors.

Presented in a highly accessible manner and drawing on the latest results of the alternative investment research conducted within the EDHEC Risk and Asset Management Research Centre, the Lhabitant and Martellini seminar appeals to fund of hedge funds managers, investment officers and administrators working for institutional investors, and consultants and key account representatives advising high net worth investors and institutions on hedge fund matters.

EDHEC AM Education Advanced Hedge Fund Investing Seminar: