Handbook of Hedge Funds

Handbook of hedge funds

Hedge funds are the fastest growing sector of the financial industry, and this trend is set to continue. Non technical yet sophisticated, the Handbook of Hedge Funds removes the veil of secrecy that surrounds these often misunderstood investment vehicles. Blending facts, practical tips, and personal insights, written by an expert in the field, it provides a complete analysis of what hedge funds are, how they operate, and how they should be used in a portfolio.

The Handbook of Hedge Funds provides:

A discussion on the history and regulation of hedge funds Detailed analysis of hedge fund strategies illustrated by trade examples from successful hedge fund managers A complete guide on the various risk and return statistics used by hedge funds A description of existing hedge fund databases and indices. An overview of how to use hedge funds in portfolio construction New material on structured products and funds of hedge funds

This book included a foreword by Mark Anson, CIO of Hermes Investments.

Foreword by Mark Anson.

1 Introduction.

PART I HEDGE FUND OVERVIEW.

2 History Revisited.

3 Legal Environment.

4 Operational and Organizational Structures.

5 Understanding the Tools Used by Hedge Funds.

PART II HEDGE FUND STRATEGIES AND TRADE EXAMPLES.

6 Introduction.

7 Long/Short Equity Strategies.

 8 Dedicated Short.

9 Equity Market Neutral.

10 Distressed Securities.

11 Merger Arbitrage.

12 Convertible Arbitrage.

13 Fixed Income Arbitrage.

14 Emerging Markets.

15 Global Macro.

16 Managed Futures and Commodity Trading Advisors (CTAs).

17 A Smorgasbord of Other Strategies.

PART III MEASURING RETURNS, RISKS AND PERFORMANCE.

18 Measuring Net Asset Values and Returns.

19 Return Statistics and Risk.

20 Risk–Adjusted Performance Measures.

21 Databases, Indices and Benchmarks.

PART IV INVESTING IN HEDGE FUNDS.

22 Introduction.

23 Revisiting the Benefits and Risks of Hedge Fund Investing.

24 Asset Allocation and Hedge Funds.

25 Hedge Fund Selection: A Route Through the Maze.

26 Funds of Hedge Funds.

27 Structured Products on Hedge Funds.

28 Conclusions.

Bibliography.

Index.

FRANÇOIS–SERGE LHABITANT, PhD, is Head of Investment Research at Kedge Capital in London. He was formerly a Member of Senior Management at Union Bancaire Privée, and prior to this, a Director at UBS/Global Asset Management. On the academic side, he is a Professor of Finance at the University of Lausanne and at EDHEC Business School. His specialist skills are in the areas of alternative investment (hedge funds) and emerging markets. He is the author of several books on these two subjects and has published numerous research and scientific popularisation articles. He is also a member of the Scientific Council of the Autorité des Marches Financiers, the French regulatory body.