The Use of Managed Accounts by Funds of Hedge Funds
Marcus Müller∗ and Daniel Dietrich†, ∗Österreichische Volksbanken AG, Vienna, Austria, †Triple Alpha Beteiligung GmbH, Vienna, Austria
Chapter Outline
5.1. Adversities of Funds of Hedge Funds in 2008
5.2. MAC Structures for FoHFs
5.2.1. Separately Managed Accounts
5.2.2. External Managed Account Platform
5.2.3. Internal Managed Account Platform
5.3. Hypotheses, Advantages, and Disadvantages of MACs
5.3.1. Advantages
Liquidity
Control of Assets and Fee Payments
Transparency and Risk Management
5.3.2. Disadvantages
5.4. Survey
5.4.1. Questionnaire and Data
5.4.2. Results
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