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Alternative Investment
"La Gestion Alternative"

Authors: Noël Amenc, Sébastien Bonnet, Gautier Henry, Lionel Martellini, Axel Weytens
Editions: Economica
Pages: 374 pages
Date: 23 January 2004
This is the first publication written in French to examine the present state of both the academic and professional knowledge of a subject which is still little known to investors and researchers in finance: hedge funds.

This book enables the reader to not only understand how the different hedge fund strategies generate performance but also to anticipate the associated risks.

As alternative investment is often considered to be an opportunity for diversification, the authors felt that it was important to synthesise the results of the most recent research work into optimising the incorporation of hedge funds in the global allocation of a portfolio.

Finally, a crucial and detailed study of the performance and risk measurement tools applicable to funds producing non-gaussian return distributions is proposed.

Being an exhaustive and educational book, it is addressed at undergraduate and postgraduate degree students and students from the "grandes écoles" wishing to familiarise themselves with a new investment universe and a new field of knowledge in finance.

As it constitutes a synthesis of the main research work undertaken in this field, the book is also a precious source of expertise and a reference document for asset management researchers and professionals alike.

About the Authors:

With a PhD in management, Noël Amenc is Professor of Finance at EDHEC. He is also Associate Editor of the Journal of Alternative Investments and a board member for the Certificate of Alternative Investment Analyst.

With an advanced graduate diploma in Financial Engineering from the University of Nice Sophia-Antipolis, Sébastien Bonnet is Risk Manager at Lyxor Asset Management, the alternative multimanagement subsidiary of the Société Générale group.

A graduate engineer from the Ecole Centrale de Paris, Gautier Henry is a convertible arbitrage fund manager at Natexis Asset Management, an asset management company in the Banque Populaire group.

An ESCP and ENSAE graduate, with a PhD in management, Lionel Martellini is professor of Finance at EDHEC. He is also member of the Editorial Board of the Journal of Alternative Investments and of the Curriculum Committee of the Certificate of Alternative Investment Analyst.

An engineer from the Ecole Centrale de Paris, Axel Weytens is head of alternative investment at Natexis Asset Square, the multimanagement arm of the Banque Populaire group.