Edhec-Risk
Alternative Investments
Funds of Hedge Funds: Performance, Assessment, Diversification, and Statistical Properties

Authors: Editor: Greg Gregoriou
Editions: Elsevier Finance
Pages: 496 pages
Date: July 2006
 
 
 
Summary
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.

Hilary Till, Principal of Premia Capital Management LLC, and Research Associate at the EDHEC-Risk Institute, contributed a chapter to the book entitled, "Natural Resources Funds of Funds: Active Management, Risk Management, and Due Diligence".

Greg Gregoriou is Professor of Finance in the School of Business and Economics at State University of New York, Plattsburgh, and a Research Associate at the EDHEC-Risk Institute.
 
 

URL for this document:
http://www.edhec-risk.com/edhec_publications/books/RISKBook.2011-02-18.5138

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