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Alternative Investments
Reconsidering Funds of Hedge Funds

Authors: Edited by: Greg Gregoriou
Editions: Elsevier
Pages: 624 pages
Date: March 2013
 
 
 
Summary
The Financial Crisis and Best Practices in UCITS, Tail Risk, Performance, and Due Diligence

This collection of research by academics and professionals presents the first comprehensive views of UCITs as well as recent trends in due diligence, risk management, and hedge fund deaths and survivors. Original papers by 22 academics and 16 hedge fund professionals include two sections on performance: one that looks at UCITS FoHF and one that deals with traditional FoHF performance. Asian and European regulatory themes are discussed, as are issues in allocation and tail risk. Most papers examine aspects of the 2008-12 financial crisis, and almost every paper addresses fund of hedge funds' management process before, during, and after the crisis. How will the funds of hedge funds business have to change in order to survive? This new research provides clues.

Key features:
  • Covers recent advances in risk management, due diligence, tail risk, and allocation
  • Presents an in-depth analysis of UCITs
  • Balances academic and professional viewpoints
Several members of EDHEC-Risk Institute's research team have contributed chapters to the publication
  • "The Limits of UCITS for Fund of Hedge Funds", and "Does Fund of Hedge Fund Size Matter? Size vs. Performance Before, During and After the Crisis", by EDHEC Affiliate Professor François-Serge Lhabitant, and Jeannine Daniel
  • "How Geography, Flows and Size Affects the Risk-Adjusted Performance of UCITS III Fund of Hedge Funds", by Greg N. Gregoriou, EDHEC-Risk Institute Research Associate, together with Dieter Kaiser and Razvan Pascalau
  • "Funds of Hedge Funds: vs. Do-It-Yourself Funds of UCITS", by Samuel Sender, Director for Studies at EDHEC-Risk Institute
  • "Predicting Funds of Hedge Funds Attrition Through Performance Diagnostics", by EDHEC Affiliate Professor Georges Hübner, together with Philippe Cogneau and Philippe Debatty
  • "Tail Risk Protection for Funds of Hedge Funds", by Oliver A. Schwindler, Research Associate at EDHEC-Risk Institute
  • "Regulation: Threat or Opportunity for the Fund of Hedge Fund Industry?" by Mathieu Vaissé, Research Associate at EDHEC-Risk Institute, and Serge Darolles
About the Editor:

Greg N. Gregoriou is Professor of Finance in the School of Business and Economics at State University of New York at Plattsburgh. He is co-editor of the Journal of Derviatives and Hedge Funds and edited "Fund of Hedge Funds" (Elsevier, 2006) among others. He is also a Research Associate at EDHEC-Risk Institute.