Book description
Valuable guidance on fund of funds investing
While capital markets have become more complex, investors are still looking to increase portfolio performance without increasing risk. Fund of funds investing is one such avenue to pursue. This practical guide provides you with the tools needed to understand and evaluate your investments in this often opaque area of finance. In Fund of Funds Investing, hedge fund expert Daniel Strachman and fund of funds manager Richard Bookbinder offer valuable insights into this world through an industry overview and review of essential issues including due diligence, risk and portfolio management, and multi-strategy funds.
Outlines strategies that will help you invest directly in a wide range of hedge funds
Other titles by Strachman: The Fundamentals of Hedge Fund Management, Essential Stock Picking Strategies, The Long and Short of Hedge Funds, Julian Robertson, and Getting Started in Hedge Funds, Second Edition
Based on extensive interviews by the authors as well as their experiences in this field
Funds of Funds Investing is an important guide to one of the most misunderstood areas of modern finance.
Table of contents
- Copyright
- Acknowledgments
- Introduction
- 1. On the Road
- 2. A Hedge Fund Is What?
- 3. How Large Is the Market?
-
4. Hedge Fund Investing
- 4.1. PRICING PROBLEMS
-
4.2. HEDGE FUNDS AND THE PRESS
- 4.2.1. The Failure of Large Hedge Funds Will Have a Major Impact on the Markets
- 4.2.2. Hedge Funds Are Dangerous Because They Use Derivatives
- 4.2.3. The Use of Leverage Is Bad
- 4.2.4. Hedge Fund Strategies Are Niche or Quirky
- 4.2.5. Hedge Funds Are All-Day Traders Using Nonpublic Information
- 4.2.6. Hedge Fund Fees Are Too High
- 4.2.7. Hedge Funds Don't Tell Us What They Invest In
- 4.2.8. Fund of Funds Charge a Second Level of Fees, Which Reduces Returns
- 4.2.9. Hedge Funds Dislike Fund of Funds
- 4.3. THE FUND OF FUNDS VALUE PROPOSITION
- 4.4. FEES
- 4.5. ALLOCATION STRATEGIES
- 4.6. BOUTIQUE INVESTING
- 4.7. IVY AND BoNY
- 5. Understanding Alternative Investing Is Both Math and Science
- 6. Why Fund of Funds Work
- 7. Understanding Risk and the Need for Due Diligence
- 8. Redemption
- 9. Fees
- 10. Leverage Facilities and Risk Management
- 11. Recent Lessons Learned and Current Trends
- 12. New Products
- 13. Multi-Strategy Funds versus Hedge Fund of Funds
- 14. How Fund of Funds Source Managers
- 15. Conclusion
- Epilogue: Turning Points
-
A. Appendix
- A.1. STANDARD DUE DILIGENCE: (NAME) FUND
- A.2. (NAME): IMPORTANT DISCLAIMERS
- Glossary
- GLOSSARY SOURCES
- Notes
Product information
- Title: Fund of Funds Investing: A Roadmap to Portfolio Diversification
- Author(s):
- Release date: December 2009
- Publisher(s): Wiley
- ISBN: 9780470258767
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