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Credit Derivative Strategies: New Thinking on Managing Risk and Return by Rohan Douglas

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CHAPTER 4
Integrating Credit Hedge Funds into a Portfolio of Investments
RICHARD HORWITZ AND ERIN ROYE SIMPSON
 
 
 
The objective of this chapter is to address the behavior of credit hedge funds from the perspective of an institutional investor. Investment organizations, in particular hedge funds, are generally structured as “silos” of specialization: narrow in focus but extremely deep in their expertise of the specific strategy that is being executed. The challenge for investors is to invest in multiple and diverse silos and to construct a “risk-efficient” portfolio of both traditional and alternative investments. Therefore, this chapter will address how credit funds can be incorporated into a broadly diversified portfolio.
This chapter will ...

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