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EDHEC-Risk Information

EDHEC-Risk in the Press

Articles published in 2005

[2017] [2016] [2015] [2014] [2013] [2012] [2011] [2010] [2009] [2008] [2007] [2006] 2005 [2004] [2003]


December 2005

  • Professional Wealth Management (December 2005)
    Hedge fund strategies for traditional investors
    "(…) Mathieu Vaissié presents a pragmatic solution for investors to build their core hedge fund portfolio and then shows how they can implement a style rotation to design a satellite hedge fund portfolio. This core/satellite approach to alternatives can reduce risk exposure as well as increasing returns. (…)"
    Copyright Professional Wealth Management [Full text]


  • Les Echos (09/12/2005)  
    La commercialisation des produits d'épargne après la publication du rapport Delmas-Marsalet
    "(...) Un des grands arguments pour vendre le conseil est qu'il est "remboursé" par les économies d'impôts », explique Noël Amenc, directeur de l'EDHEC Risk and Asset Management Center. (...)"
    Copyright Les Echos [Full text - French]


  • La Tribune (16/12/2005)  
    La gestion actif-passif : les approches modernes
    "(...) Les méthodes traditionnelles de la gestion actif-passif ne sont pas forcément optimales. ll existe des approches plus sophistiquées pour optimiser l'excédent de valeur de l'actif par rapport au passif. (...)" Article by Lionel Martellini and Philippe Foulquier, EDHEC
    Copyright La Tribune [www.latribune.fr]


  • La Tribune (13/12/2005)  
    Les fonds alternatifs sont-ils victimes de leur succès ?
    "(...) Ils permettent une diversification des risques dont les attraits sont indéniables. Même si leur performance depuis 2004 est plus basse que celle attendue. (...)" Article by Walter Géhin, Research Associate, EDHEC, and Mathieu Vaissié, Senior Research Engineer, EDHEC
    Copyright La Tribune [www.latribune.fr]


  • La Tribune (13/12/2005)  
    La gestion s'institutionnalise
    "(...) Les hedge funds sortent peu à peu d'une gestion traditionnelle et optent pour une diversification de leur portefeuille. (...)" Article by Noël Amenc, Finance Professor, EDHEC
    Copyright La Tribune [www.latribune.fr]


  • European Pensions and Investment News (05/12/2005)
    Fears over buy and sellside effects and increasing costs means MiFID adoption faces another stumbling block
    "(…) But not everyone is convinced by these figures. "It’s not going to cost what the consultants say it’s going to cost," argues Jean-René Giraud, chief executive officer of EDHEC-Risk Advisory. "It’s not another Y2K or euro." (…)"
    Copyright European Pensions and Investment News [Full text]


  • Les Echos (01/12/2005)  
    Fonds alternatifs : Les vrais atouts
    "(...) ...précise Noël Amenc, directeur du centre de recherche EDHEC-Risk. (...)"
    Copyright Les Echos [Full text - Registration required - French]


  • Funds Europe (December 2005)
    Does this movie have a happy ending?
    "(...) In part one of a three-part series on MiFD, Jean-René Giraud of EDHEC looks at the new directive’s implications for financial institutions. (...)"
    Copyright Funds Europe [www.funds-europe.com]


  • Hedge Funds Review (December 2005)
    The fine art of spotting and measuring hedge fund risk
    "(...) Many investors return to the same tools and metrics when analysing hedge fund risk, but a growing body of academic research is suggesting the most tried and tested tools may not always be the best. (...)"
    By François-Serge Lhabitant, EDHEC Business School
    Copyright Hedge Funds Review [Full text - Registration required]


November 2005

  • Financial Times (25/11/2005)
    Get off the fence and look at the hedge funds
    "(...) However, Professor Lionel Martellini of the EDHEC Business School points out that, in diversification terms, long-short funds are the last things equity investors should buy. (...)"
    Copyright Financial Times [Full text]


  • La Tribune (22/11/2005)  
    La diversification alternative : de la diversité naît la richesse
    "(...) Les stratégies alternatives ont progressivement trouvé leur place dans le portefeuille "Core" des investisseurs, avec pour objectif la réduction des risques normaux et extrêmes. (...)" Article by François-Serge Lhabitant, Associate Professor, and Mathieu Vaissié, Research Engineer, EDHEC
    Copyright La Tribune [www.latribune.fr]


  • European Pensions and Investment News (21/11/2005)
    Capacity Effect or Incapacity Effect?
    Article by Noël Amenc, PhD, professor of finance at EDHEC and director of the EDHEC Risk and Asset Management Research Centre, Nice
    "(…) Noël Amenc provides a perspective on hedge fund performance and the role of beta. (…)"
    Copyright European Pensions and Investment News [Full text]


  • La Tribune (15/11/2005)  
    Evaluation de la performance : la mesure de l'alpha
    "(...) Dans toute évaluation d'un portefeuille, il faut distinguer la performance de la gestion passive de celle de l'alpha, issue de la gestion active. (...)" Article by Véronique Le Sourd, Research Engineer, EDHEC
    Copyright La Tribune [www.latribune.fr]


  • Les Echos (14/11/2005)  
    « L'alpha » reste l'affaire des spécialistes
    "(...) C'est l'un des enseignement du classement des sociétés de gestion agréées en France, établi par Europerformance Groupe Fininfo, en collaboration avec l'EDHEC et que « Les Echos » dévoilent en exclusivité. (...)"
    Copyright Les Echos [Full text - French]


  • Les Echos (14/11/2005)  
    Noël Amenc : « Le grand public devrait être prudent »
    "(...) Pour Noël Amenc, patron du centre de recherche de l'EDHEC, présenter les OPCI comme des « OPCVM immobiliers » peut induire en erreur les épargnants en leur laissant croire qu'ils bénéficieront d'un niveau de protection équivalent aux autres produits de gestion collective. (...)"
    Copyright Les Echos [Full text - French]


  • La Tribune (08/11/2005)  
    La gestion par les styles s'impose
    "(...) En agissant avec constance un gérant peut dégager une meilleure performance. L'allocation dynamique entre styles apporte une valeur ajoutée tactique à la gestion de portefeuilles. (...)". Article by Véronique L Sourd, Research Engineer, EDHEC
    Copyright La Tribune [www.latribune.fr]


  • Financial Times (07/11/2005)
    Alphabet Street Hedge fund returns
    "(...) EDHEC business school, for instance, reckons that pure alpha accounts...has increased significantly from 2003 to 2005, according to EDHEC. (...)"
    Copyright Financial Times [Full text]


  • Funds Europe (November 2005)
    Investor's choice
    "(...) Noël Amenc and Lionel Martellini of EDHEC, followed by Veronique Le Sourd of EDHEC, outline different asset allocation and portfolio construction techniques. (...)"
    Copyright Funds Europe [www.funds-europe.com]


  • Hedge Funds Review (November 2005)
    Do funds of hedge funds really add value for investors?
    "(...) Funds of hedge funds remain the most oft-used funnel to pour money into hedge funds. So does using this conduit increase chances of profit?. (...)"
    By Mathieu Vaissié, EDHEC Risk and Asset Management Research Centre
    Copyright Hedge Funds Review [Full text - Registration required]


October 2005

  • Financial Times (31/10/2005)
    US hedge funds
    "(...) Furthermore, there is little they can do about low volatility or the fall in the credit risk premium, which EDHEC Business School suggests may have affected returns. (...)"
    Copyright Financial Times [Full text]


  • La Tribune (25/10/2005)  
    Indices et benchmarks, deux termes bien distincts
    "(...) Il convient de ne pas confondre les termes, qui sont souvent employés, à tort, comme synonymes. Les méthodes sophistiquées de construction de benchmarks apportent une réelle valeur ajoutée dans la stratégie d'allocation. (...)". Article by Véronique Le Sourd, Research Engineer, and Noël Amenc, Professor of Finance, EDHEC
    Copyright La Tribune [www.latribune.fr]


  • La Tribune (18/10/2005)  
    Les limites du modèle de Markowitz
    "(...) Les principales limites de ce modèle résident dans des paramètres difficiles à éstimer. Mais aussi dans un manque d'adaptation à la réalité des préoccupations et pratiques des gérants et investisseurs. (...)". Article by Noël Amenc & Lionel Martellini, Professors of Finance, EDHEC
    Copyright La Tribune [www.latribune.fr]


  • La Tribune (11/10/2005)  
    Les enjeux de l'allocation stratégique
    "(...) Cette allocation consiste à répartir le portefeuille entre différentes classes d'actifs en fonction des objectifs des investisseurs. Les techniques d'allocation peuvent se heurter au manque de stabilité des données utilisées. (...)". Article by Noël Amenc & Lionel Martellini, Professors of Finance, EDHEC
    Copyright La Tribune [www.latribune.fr]


  • Funds Europe (October 2005)
    Optimum efficiency
    "(...) Philippe Malaise, Lionel Martellini and Noël Amenc of EDHEC introduce a robust model for the core-satellite approach. (...)"
    Copyright Funds Europe [www.funds-europe.com]


  • Hedge Funds Review (October 2005)
    What future for hedge funds? Revisiting capacity constraints
    "(...) As hedge funds have come into vogue, the concern in the industry has been that rapid growth would eliminate opportunity and attract lesser managers. Experts from EDHEC look at the theories behind the speculation. (...)"
    By Mathieu Vaissié and Walter Géhin, EDHEC Risk and Asset Management Research Centre
    Copyright Hedge Funds Review [Full text - Registration required]


September 2005

  • La Tribune (27/09/2005)  
    L'approche "core-satellite"
    "(...) Cette nouvelle forme d'allocation d'actifs permet de rendre plus claire la lecture des rendements. Elle présente également des avantages en termes de gestion des risques et des frais de gestion. (...)". Article by Noël Amenc & Philippe Malaise, Professors of Finance, EDHEC
    Copyright La Tribune [www.latribune.fr]


  • Les Echos (26/09/2005)  
    L'externalisation, réponse stratégique des gérants à la concurrence
    "(...) Il ressortait d'un sondage effectué par l'EDHEC en 2003 auprès des grands « assets managers » européens que le quart d'entre eux avaient sous-traité à une de leur filiale, l'administration et la valorisation de leurs fonds - solution privilégiée notamment par ceux appartenant à des groupes bancaires ayant développé leur propre « filière titre » comme BPSS pour BNP Paribas -, 17 % le faisait à un fournisseur extérieur, tandis que 53 % d'entre eux continuaient à effectuer eux-mêmes ces activités. (...)"
    Copyright Les Echos [Full text - French]


  • Les Echos (21/09/2005)  
    Les financiers préoccupés par l'ouverture des Bourses européennes à la concurrence
    "(...) Qualifiée d'« utopique » par Jean-René Giraud, le président d'EDHEC Risk Advisory, la clause semble délicate à mettre en oeuvre. (...)"
    Copyright Les Echos [Full text - French]


  • La Tribune (20/09/2005)  
    Rendre aux gestions active et passive tout leur sens
    "(...) La gestion passive ne se limite pas à la simple réplication d'indices. Distinguer la gestion des "alpha" et des "beta" est plus pertinent. (...)". Article by Noël Amenc & Philippe Malaise, Professors of Finance, EDHEC
    Copyright La Tribune [www.latribune.fr]


  • Funds Europe (September 2005)
    Diversification effect
    "(...) Mathieu Vaissié of EDHEC introduces a technique that allows investors inexperienced in alternative investments to make the most of the benefits a portfolio including hedge funds offers. (...)"
    Copyright Funds Europe [www.funds-europe.com]


  • Hedge Funds Review (September 2005)
    How hedge funds work in ALM
    "(...) While libraries could be filled by the books on the benefits of hedge funds in investors' portfolios, how far they are helpful in pension funds' asset/liability-matching tasks has been less explored, until now. By Lionel Martellini and Volker Ziemann, EDHEC. (...)"
    Copyright Hedge Funds Review [Full text - Registration required]


  • Financial News (September 2005)
    Academic insight: Structured investment strategies in institutional investors' portfolios
    "(...) Investing in such products allows pension funds to profit from equity risk premium without full exposure to downside risk, write Lionel Martellini, Koray Simsek and Felix Goltz of the EDHEC Risk and Asset Management Research Centre. (...)"
    Copyright Financial News [www.efinancialnews.com]


August 2005

  • European Pensions and Investment News (29/08/2005)
    Ensuring ratings reflect performance
    Article by Noël Amenc, PhD, professor of finance at EDHEC and director of the EDHEC Risk and Asset Management Research Centre, Nice
    "(…) Noël Amenc examines the performance measurement of investment funds and finds it is not showing the whole picture. (…)"
    Copyright European Pensions and Investment News [Full text]


  • European Pensions and Investment News (29/08/2005)
    Upbeat managers shrug
    "(…) Alternative investment professionals are optimistic about future prospects for the industry and do not see the so-called "capacity effect" as a major threat to future profitability, according to a survey by EDHEC Risk and Asset Management Centre. (…)"
    Copyright European Pensions and Investment News [Full text]


July 2005

  • European Pensions and Investment News (04/07/2005)
    The benefits of guaranteed structured products
    A research paper presented by Lionel Martellini, scientific director of the EDHEC Risk and Asset Management Research Centre; Koray Simsek, associate professor of finance at EDHEC Business School; and Felix Goltz, research engineer with the EDHEC Risk and Asset Management Research Centre
    "(…) The market downturns of recent years have dramatically affected most institutional investors, and this is particularly true of pension funds. This is perhaps surprising given that an increasingly thorough range of structured products has been developed recently to allow investors to tailor the risk-return profile of their portfolio in a more efficient way than simple linear exposure to traditional asset classes. (…)"
    Copyright European Pensions and Investment News [Full text]


  • Les Echos (04/07/2005)  
    Moins performants, les « hedge funds » affrontent le doute des investisseurs
    "(...) Tel est l'un des enseignements d'une étude réalisée par deux chercheurs de l'EDHEC-Risk Asset Management Research, Walter Géhin et Mathieu Vaissié. (...)"
    Copyright Les Echos [Full text - French]


  • Les Echos (04/07/2005)  
    La gestion alternative pénalisée par une conjoncture défavorable
    "(...) « Une grande partie de la contre-performance récente des "hedge funds" s'explique par une évolution défavorable de la conjoncture qui a impacté négativement leur exposition à certains risques », explique Noël Amenc, directeur de l'EDHEC Risk and Asset Management Research Centre. (...)"
    Copyright Les Echos [Full text - French]


  • Funds Europe (July 2005)
    Is an index a benchmark?
    "(...) Véronique Le Sourd and Felix Goltz of EDHEC sweep away the confusion between benchmarks and indices. (...)"
    Copyright Funds Europe [www.funds-europe.com]


  • Banque & Finance (July/August 2005)  
    Produits structurés : Presque le meilleur des mondes !
    "(...) Premier travail académique du genre, une récente étude de l’Edhec s’est attachée à déterminer la proportion optimale de produits structurés (PS) qui devraient être inclus dans les portefeuilles d’investisseurs institutionnels. Selon les chercheurs, les PS présentent deux avantages majeurs. (...)"
    Copyright Banque & Finance [Full text - French]


June 2005

  • The Hedgefund Journal (June/July 2005)
    No evidence of capacity effect in hedge fund industry, argues latest research from EDHEC
    "(...) According to research by French business school EDHEC's Risk and Asset Management Research Centre, this pessimism doesn’t hold up when we examine the facts.(...)"
    Copyright The Hedgefund Journal [Full text]


  • Financial Times (21/06/2005)
    Studies will give funds little to cheer about
    "(...) EDHEC, the French business school, has looked at the thorny question of whether the flood of money into the sector might be reducing the ability of managers to produce alpha, or superior risk-adjusted returns. (...)"
    Copyright Financial Times [Full text]


  • La Tribune (21/06/2005)  
    Du bon usage de la gestion alternative
    "(...) La gestion alternative n'est pas supérieure à la gestion traditionnelle. Elle est différente, notamment par ses bêtas, et c'est tout son intérêt. (...)" Article by Noël Amenc, Finance Professor, EDHEC, and Director of the EDHEC Risk and Asset Management Research Centre
    Copyright La Tribune [www.latribune.fr]


  • European Pensions and Investment News (20/06/2005)
    Hedge fund industry calls for consumer-driven approach to alpha packaging
    "(…) A study carried out at EDHEC Risk and Asset Management Research Centre has called for the hedge fund industry to adopt a consumer-driven approach to the packaging of alpha, as opposed to what it terms the current producer perspective. The study also calls for the creation of new types of products better suited to the expectations of institutional investors. (…)"
    Copyright European Pensions and Investment News [Full text]


  • Les Echos (20/06/2005)  
    Les succès du laboratoire de recherche de l'EDHEC
    "(...) Son centre de recherche en finance multiplie les partenariats avec les entreprises. (...)"
    Copyright Les Echos [Full text - French]


  • Hedge Funds Review (June 2005)
    Alpha: From delivery to packaging
    "(...) EDHEC provides an illustration from active bond-portfolio management to explain the use of fixed-income derivatives to design hedge fund-type offerings that better fit investors' needs . (...)"
    Copyright Hedge Funds Review [Full text - Registration required]


  • Funds Europe (June 2005)
    Optimal allocation
    "(...) Lionel Martellini, Koray Simsek and Felix Goltz of EDHEC look at the role of structured products in institutional investors’ portfolios. (...)"
    Copyright Funds Europe [www.funds-europe.com]


  • IPE (June 2005)
    A match made in heaven
    "(…) Within the scope of its "Asset Allocation and Alternative Diversification" research programme, the EDHEC Risk and Asset Management Research Centre has carried out a survey in conjunction with IPE to obtain a better understanding of pension funds’ approaches to alternative diversification. The questionnaire was sent out to the top 1,000 pension funds in Europe. The preliminary results that will be presented in the remainder of this article rely on answers given by 96 pension funds. (…)"
    Copyright IPE [Full text]


  • IPE (June 2005)
    Case for active style allocation
    Article by Lionel Martellini, scientific director of the EDHEC Risk and Asset Management Research Centre
    "(…) Although the existing literature seems to concur on the interest of hedge funds as valuable investment alternatives, there seem to be several shortcomings in current industry practice when it comes to fully capitalising on the advantages of including hedge funds in an investor's asset allocation. (…)"
    Copyright IPE [Full text]


May 2005

  • Funds Europe (May 2005)
    Technology Report: The battle begins
    "(...) A report from France-based research and advisory group EDHEC-Risk Advisory highlights the number of bank-based offerings now on the market. (...)"
    Copyright Funds Europe [Full text]


  • European Pensions and Investment News (23/05/2005)
    The alternative future for indices
    Noël Amenc, Professor of Finance at EDHEC and director of the EDHEC Risk and Asset Management Research Centre, outlines a role for alternative indices
    "(…) For many years, hedge funds have been sold and perceived as investment management entities for which the objective measure of absolute performance excluded all reference to any index. Today there are three major reasons why that approach has outlived its usefulness. (...)"
    Copyright European Pensions and Investment News [Full text]


  • Les Echos (11/05/2005)  
    Lancement dans la recherche appliquée
    "(...) Créé en 2001, l'EDHEC Risk Asset Management Research s'est hissé parmi les centres de recherche réputés en gestion d'actifs en Europe. (...)"
    Copyright Les Echos [Full text - French]


  • Les Echos (11/05/2005)  
    Actifs : l'EDHEC et Lyxor créent des outils de diversification
    "(...) Un apport majeur que rappellent l'EDHEC Risk Asset Management Research et Lyxor, qui annoncent aujourd'hui la création conjointe de deux outils de diversification, l'un pour les portefeuilles investis en actions, l'EDHEC Equity Diversifier, l'autre pour les portefeuilles obligataires, l'EDHEC Bond Diversifier. (...)"
    Copyright Les Echos [Full text - French]


  • Funds Europe (May 2005)
    Performance persistence
    "(...) Walter Géhin of EDHEC introduces a way of pinpointing funds that offer positive returns over several years. (...)"
    Copyright Funds Europe [www.funds-europe.com]


  • Life & Pensions (May 2005)
    The theory of LDI
    "(...) This paper considers the optimal LDI allocation problem for a pension fund. Using the liability portfolio as a numeraire, it shows that the solution involves a three fund separation theorem that provides formal justification to recently introduced liability-driven investment solutions. By Lionel Martellini. (...)"
    Copyright Life & Pensions [Full text - Registration required]


  • Financial News (May 2005)
    Using derivatives: from static hedging to dynamic asset allocation
    "(...) Fund managers are looking to make greater use of derivatives for the benefit of investors, writes Felix Goltz, research engineer with the EDHEC Risk and Asset Management Research Centre. (...)"
    Copyright Financial News [www.efinancialnews.com]


  • IPE (May 2005)
    Right at the core
    "(…) This concept of dynamic core satellite was introduced by Noël Amenc, professor of finance at EDHEC Business School and director of the EDHEC Risk and Asset Management Research Centre in Lille. Amenc points out that when investors allocate their investment between the core and the satellite they generally do not know whether they will get a negative or positive tracking error. "The idea of dynamic core satellite integration is to integrate the distinction between good and bad tracking error in the apportionment of the core-satellite of the investments and therefore allow optimisation of the size of the satellite," he says. (…)"
    Copyright IPE [Full text]


  • Hedge Funds Review (May 2005)
    Selecting the right strategy for the right diversification profile
    "(...) As hedge fund strategies are not a homogenous alternative class and managers increasingly paint their strategy as non-correlated to their alternative investment peers, we examine which strategies provide the best diversification for various investors. (...)"
    By Mathieu Vaissié, EDHEC Risk and Asset Management Research Centre
    Copyright Hedge Funds Review [Full text - Registration required]


  • Banque & Finance (May/June 2005)  
    L’analyse de style, mode d’emploi
    "(...) En ce qui concerne son application pratique à un univers tel que celui des fonds de placement, nous avons démarré nos travaux sur le Style Rating à la fin de l’année 2002, grâce à la collaboration de l’EDHEC qui nous a apporté son expertise sur ces techniques appliquées à la mesure de performance. (...)"
    Copyright Banque & Finance [Full text - French]


April 2005

  • Hedge Funds Review (28/04/2005)
    Are the Sharpe ratio’s days numbered?
    "(...) A recent survey by EDHEC in January raised some interesting points regarding the degree of transparency that investors should expect today and how the information available should best be used, says Jean Turrettini from EIM SA.. (...)"
    Copyright Hedge Funds Review [Full text]


  • IPE (27/04/2005)
    Hedge funds "should be part of core portfolio"
    "(…) Hedge fund investments should be part of the core as well as satellite portfolio – according to a professor at the EDHEC French business school. (…)"
    Copyright IPE [Full text]


  • Le Temps (25/04/2005)  
    Une notation de fonds identifie les capacités réelles des gérants
    "(...) L'institut français vient de lancer une nouvelle méthode de notation des fonds: l'Europerformance-EDHEC Style Rating. (...)"
    Copyright Le Temps [Full text - Registration Required - French]


  • Les Echos (25/04/2005)  
    Les multigérants alternatifs, artisans de la sélection de fonds
    "(...) « L'industrie des fonds de fonds prétend faire de la réallocation dynamique entre les différentes stratégies et styles de "hedge funds", mais cette tâche est en contradiction avec les efforts et les difficultés pour investir dans les meilleurs fonds, estime Noël Amenc, directeur de l'EDHEC Risk and Asset Management Research Centre. (...)"
    Copyright Les Echos [Full text - French]


  • Financial Times (25/04/2005)
    BGI to expand short-sell business
    "(...) EDHEC, the French business school, said the average hedge fund made just 1 per cent in the first quarter. (...)"
    Copyright Financial Times [Full text]


  • IPE (22/04/2005)
    Schemes should "look at structured products"
    "(…) The pension fund world lacks risk management and should look at structured products, an investment conference in Geneva has been told. Koray Simsek, a professor of finance at the EDHEC business school, advocated pension funds gaining exposure to guaranteed structured products. (…)"
    Copyright IPE [Full text]


  • Les Echos (18/04/2005)  
    Les carences des classements de fonds dénoncées par l'EDHEC
    "(...) Une étude de l'EDHEC Risk & Asset Management évalue la pertinence des divers classements de fonds disponibles pour les investisseurs et rend des conclusions tranchées. (...)"
    Copyright Les Echos [Full text - French]


  • The Hedgefund Journal (April 2005)
    Hedge fund transparency
    "(...) A recent industry survey (EDHEC-January 2005) has raised some interesting points regarding the degree of transparency that investors should expect today, and how that information available should best be used. (...)"
    Copyright The Hedgefund Journal [Full text]


  • Hedge Funds Review (01/04/2005)
    The nature of the beast
    "(...) EDHEC defines risk and the way it should be reported by funds of hedge funds. (...)"
    Copyright Hedge Funds Review [Full text - Registration required]


  • Funds Europe (April 2005)
    Investing with style
    "(...) Felix Goltz of EDHEC describes the way to exploit the benefits of hedge fund diversification benchmarks. (...)"
    Copyright Funds Europe [www.funds-europe.com]


March 2005

  • The Hedgefund Journal (March 2005)
    Funds of Hedge Funds Reporting
    Article by Mathieu Vaissié, Research Engineer with the EDHEC Risk and Asset Management Research Centre
    Copyright The Hedgefund Journal [Full text]


  • Funds Europe (March 2005)
    Light at the end of the tunnel
    "(...) Mathieu Vaissié of EDHEC demonstrates how FoHF investors' information needs and the constraints of fund managers can be reconciled. (...)"
    Copyright Funds Europe [www.funds-europe.com]


  • IPE (March 2005)
    Investors facing hedge fund "disappointment"
    "(…) Noel Amenc, director of the EDHEC Risk and Asset Management Research Centre, told a briefing today that people were now moving from beta from alpha in the hedge fund universe. He called this "alternative beta". (…)"
    Copyright IPE [Full text]


  • Hedge Funds Review (March 2005)
    Is performance persistence a viable criterion for selecting hedge funds?
    "(...) While track record is a problematic guide to picking a hedge fund manager, different ways of analysing past performance can still offer useful insights. (...)"
    By Walter Géhin, EDHEC Risk and Asset Management Research Centre
    Copyright Hedge Funds Review [Full text - Registration required]


February 2005

  • European Pensions and Investment News (28/02/2005)
    "Alpha", did you say alpha"?
    Noël Amenc, professor of finance at EDHEC Business School and director of the EDHEC Risk and Asset Management Research Centre, analyses the dominance of alpha
    "(…) This separation of beta management from alpha production is both the aim and the basis of the core-satellite approach, the subject of EDHEC's original and extensive research which has received international recognition. (...)"
    Copyright European Pensions and Investment News [Full text]


  • European Pensions and Investment News (28/02/2005)
    Hedge fund of funds industry slated
    EDHEC report says improved reporting is required for institutions
    "(…) The hedge fund of funds industry needs to go further to meet the reporting requirements of institutional investors, particularly on measures of extreme risk. This is the conclusion of a study of 98 hedge funds and their investors carried out by the EDHEC Risk and Asset Management Research Centre based in Nice. (...)"
    Copyright European Pensions and Investment News [Full text]


  • Les Echos (25/02/2005)  
    D'après une étude, le reporting des fonds de fonds alternatifs s'améliore
    "(...) D'après l'EDHEC, le reporting des fonds de fonds alternatifs s'améliore en Europe en intégrant des outils de mesure de risque et de performance plus pertinents. Les grands multimanagers sont prêts à fournir une information abondante. (...)"
    Copyright Les Echos [Full text - French]


  • Hedge Funds Review (18/02/2005)
    FoHF must improve disclosure practices, says EDHEC
    "(...) Funds of hedge funds, worth $541bn or approximately half the overall hedge fund industry need to improve reporting standards significantly, according to Mathieu Vaissié, research engineer at EDHEC Risk and Asset Management Research Centre. Vaissie is also author of a report published this week by EDHEC on FoHF reporting.. (...)"
    Copyright Hedge Funds Review [Full text]


  • Hedge Funds Review (February 2005)
    Revisiting hedge funds: the institutional investor's perspective
    "(...) Institutions are increasingly looking at investing in hedge funds, but should they invest directly in individual managers, via funds of hedge funds or investable hedge fund indices?. (...)"
    By Felix Goltz, EDHEC Risk and Asset Management Research Centre
    Copyright Hedge Funds Review [Full text - Registration required]


  • Funds Europe (February 2005)
    Hedge fund indices as asset allocation tools
    "(...) Felix Goltz of EDHEC shows how it is possible to build hedge fund indices that are both representative and investable. (...)"
    Copyright Funds Europe [www.funds-europe.com]


January 2005

  • Le Temps (26/01/2005)  
    Quand la gestion alternative devient traditionnelle
    Article by François-Serge Lhabitant, Associate Professor, EDHEC Business School
    Copyright Le Temps [Full text - French]


  • Funds Europe (January 2005)
    A need for new ratings
    "(...) Increasingly demanding investors require fund perfomance measurements that are both relevant and scientifically rigorous, says Noël Amenc of EDHEC Business School. (...)"
    Copyright Funds Europe [www.funds-europe.com]


  • Funds Europe (January 2005)
    Investment education: the qualification showdown
    "(...) The French business school EDHEC offers preparatory courses on an exclusive basis through EDHEC Alternative Investment Education. (...)"
    Copyright Funds Europe [Full text]


  • Hedge Funds Review (January 2005)
    Time for relative returns
    "(...) The shift from individual to institutional investors is necessitating a change to the way the success or failure of hedge funds is measured. (...)"
    By Walter Géhin and Mathieu Vaissié, EDHEC Risk and Asset Management Research Centre
    Copyright Hedge Funds Review [Full text - Registration required]