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Author: Maximilian Wegener
Publisher: GRIN Verlag
ISBN: 3656428158
Category : Business & Economics
Languages : en
Pages : 8
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Book Description
Document from the year 2012 in the subject Business economics - Investment and Finance, grade: 8.0, Maastricht University, course: Investment analysis and portfolio management, language: English, abstract: This paper is based on “The Common Fund Hedge Fund Portfolio” case from the Harvard Business School (Harvard Business School, 1996). The data provided are taken from it. It aims to support David Storrs, CEO of the Common Fund Company, decision if and how to include a hedge fund into the overall portfolio. The Common Funds has more than $17 billion assets under management for more than 1,000 educational institutions. Storrs considers to establishing a fund of funds, which he can offer his clients as a means of diversification. A hedge fund is an alternative, unregulated investment vehicle that can take long as well as short positions, use high leverage and write options or futures. The central question asks how Storrs should allocate different hedge funds in the funds of funds portfolio, taking into consideration the legal, economic and marketing issues, beside performance and volatility. The first section will touch upon the legal, economic and marketing issues of hedge funds with regard to the decision to take by Storrs. The second section is going to investigate the proposed allocation of assets and reconsiders the asset allocation. Thereby not only quantitative measures are taken into account, but also qualitative factors. Finally, an advice is given on how Storrs should allocate the portfolio with regard to the circumstances of the Common Fund Company....
Author: Maximilian Wegener
Publisher: GRIN Verlag
ISBN: 3656428158
Category : Business & Economics
Languages : en
Pages : 8
Get Book
Book Description
Document from the year 2012 in the subject Business economics - Investment and Finance, grade: 8.0, Maastricht University, course: Investment analysis and portfolio management, language: English, abstract: This paper is based on “The Common Fund Hedge Fund Portfolio” case from the Harvard Business School (Harvard Business School, 1996). The data provided are taken from it. It aims to support David Storrs, CEO of the Common Fund Company, decision if and how to include a hedge fund into the overall portfolio. The Common Funds has more than $17 billion assets under management for more than 1,000 educational institutions. Storrs considers to establishing a fund of funds, which he can offer his clients as a means of diversification. A hedge fund is an alternative, unregulated investment vehicle that can take long as well as short positions, use high leverage and write options or futures. The central question asks how Storrs should allocate different hedge funds in the funds of funds portfolio, taking into consideration the legal, economic and marketing issues, beside performance and volatility. The first section will touch upon the legal, economic and marketing issues of hedge funds with regard to the decision to take by Storrs. The second section is going to investigate the proposed allocation of assets and reconsiders the asset allocation. Thereby not only quantitative measures are taken into account, but also qualitative factors. Finally, an advice is given on how Storrs should allocate the portfolio with regard to the circumstances of the Common Fund Company....
Author: H. Gifford Fong
Publisher: World Scientific
ISBN: 9812563776
Category : Business & Economics
Languages : en
Pages : 217
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Book Description
The World of Hedge Funds is a compendium of distinguished papers focusing on the cutting-edge analysis of hedge funds. This area is arguably the fastest growing source of funds in the investment management arena. It represents an exciting opportunity for the investor and manager in terms of the range of return and risk available. A source of rigorous analysis is therefore both sought after as well as needed. This book aims to fill this gap by presenting an eclectic collection of papers contributed by influential academics and practitioners covering the characteristics and problems of hedge funds.
Author: Frederic Gros
Publisher: GRIN Verlag
ISBN: 3638761363
Category :
Languages : en
Pages : 30
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Book Description
Seminar paper from the year 2005 in the subject Business economics - Investment and Finance, grade: 1,7, European Business School - International University Schlo Reichartshausen Oestrich-Winkel, 36 entries in the bibliography, language: English, abstract: Introduction Problem and objectives Historically, there have been two competing investment theories. On the one hand there is the traditional efficient markets theory, which states that share prices fully reflect market information and therefore only temporary mispricing occurs. The traditional investments to buy and hold equity and bonds, which benefit principally from market direction is based on this theory. On the other hand the second theory argues that greater inefficiencies occur, and therefore opportunities can arise that enable investors to exploit mispriced securities without facing excessive levels of risk. This is the principal argument behind hedge fund investing. In the Oxford dictionary, the term "hedge" is described as a way of protecting yourself against a loss, especially money. To achieve this goal, hedge funds use a wide range of different investment strategies. These strategies are partly very complex and therefore sometimes very difficult to comprehend for the investor. This fact contributes mainly to the negative image of hedge funds in the general public. But the truth is that as hedge funds exploit chances of winning which result from market imperfections, they actually support and improve the stability of the financial systems. The hedge fund industry experienced a very strong growth in the last two decades and represents a good alternative investment opportunity to traditional asset classes. Therefore this paper aims to provide an overview of the numerous hedge fund strategies which are applied by the increasing number of hedge funds. This knowledge is needed as some specialists already expect that traditional mutual funds may not be able to avoid adopting respectively integrating s
Author: Daniel Detzer
Publisher:
ISBN: 9783640216086
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Seminar paper from the year 2007 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,1, Berlin School of Economics, course: National and International Financial Relations, 13 entries in the bibliography, language: English, abstract: With the recent announcement of the investment bank Bear Stearns that two of their hedge funds High-Grade Structured Credit Enhanced Leverage Fund and High-Grade Structured Credit Fund had become nearly worthless, the discussion about hedge funds was newly rekindled. The funds were mainly invested in the market for mortgages loans to debtors with a medium or low degree of credit worthiness, the so called sub prime lending. They traded with collateralized debt obligations (CDO), which bunch the risk of those loans. Due to the decline in prices of properties and the increase in interest rate debtors got into trouble. Therefore the CDOs lost worth and the funds became bankrupt. Even if that is very problematic for the investors and the investment bank some economists think, that there could occur bigger problems. Meanwhile there are rumours that other funds got into trouble and economists worry that they could destabilize the whole financial system, due to their close relations to other financial institutions. Banks, in particular, which financed the funds, are in danger of being affected. Whether this small crisis will spread or not can actually not be answered. In the next days and months that remains to be seen. But for sure the discussion about hedge funds will be renewed. Therefore this essay will deal with that complicated topic. It is tried to explain what hedge funds are and how they work. For this purpose, first of all a proper definition for hedge funds is given. Secondly, the origin of hedge funds will be described and then the typical characteristics will be elaborated. Next, there is a short overview of the common strategies and about the development of hedge funds given. In the last
Author: Sam Kirschner
Publisher: John Wiley & Sons
ISBN: 0470048549
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
"Eldon Mayer is a battle-tested pro. You should listen to what he and his partner, Sam Kirschner, have to say." --Barton M. Biggs, Managing Partner, Traxis Partners Meet the crème de la crème of the new breed of hedge fund managers, learn how they evaluate world financial markets, hear about their winners and losers, and discover how they apply proprietary strategies to stay ahead of the curve. Through broad-scope interviews with 15 highly successful managers, The Investor's Guide to Hedge Funds provides unparalleled insight into each major hedge fund strategy, its strengths, weaknesses, and performance characteristics. Most importantly, this book shows that despite the sensational headlines, adding hedge funds to a portfolio of stocks and bonds can reduce risk and improve overall performance.
Author: IMCA
Publisher: John Wiley & Sons
ISBN: 0471473421
Category : Business & Economics
Languages : en
Pages : 225
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Book Description
A well-rounded hedge fund guide for the serious financial professional Alternative investment strategies-hedge funds in particular-have experienced a significant resurgence recently, largely in response to the dramatic downturn of the global equity markets. In response to this explosion in popularity, this book focuses on many of the best moneymaking strategies related to these alternative investment vehicles. IMCA (The Investment Management Consultants Association) is a professional association established in 1985, representing the investment consulting profession in the U.S. and Canada. Kenneth S. Phillips is a member of the IMCA Advisory Council and Managing Principal of Capital Partners, LLC. Ron Surz, CIMA, is a member of the IMCA Board of Directors and the President of PPCA Inc.
Author: Alon Brav
Publisher: Now Publishers Inc
ISBN: 1601983387
Category : Business & Economics
Languages : en
Pages : 76
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Book Description
Hedge Fund Activism begins with a brief outline of the research literature and describes datasets on hedge fund activism.
Author: Greg N. Gregoriou
Publisher: John Wiley & Sons
ISBN: 1118161033
Category : Business & Economics
Languages : en
Pages : 487
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Book Description
Whether already experienced with hedge funds or just thinking about investing in them, readers need a firm understanding of this unique investment vehicle in order to achieve maximum success. Hedge Funds unites over thirty of the top practitioners and academics in the hedge fund industry to provide readers with the latest findings in this field. Their analysis deals with a variety of topics, from new methods of performance evaluation to portfolio allocation and risk/return matters. Although some of the information is technical in nature, an understanding and applicability of the results as well as theoretical developments are stressed. Filled with in-depth insight and expert advice, Hedge Funds helps readers make the most of this flexible investment vehicle.
Author: Daniel Detzer
Publisher: GRIN Verlag
ISBN: 3640216024
Category : Business & Economics
Languages : en
Pages : 15
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Book Description
Seminar paper from the year 2007 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,1, Berlin School of Economics, course: National and International Financial Relations, 13 entries in the bibliography, language: English, abstract: With the recent announcement of the investment bank Bear Stearns that two of their hedge funds High-Grade Structured Credit Enhanced Leverage Fund and High-Grade Structured Credit Fund had become nearly worthless, the discussion about hedge funds was newly rekindled. The funds were mainly invested in the market for mortgages loans to debtors with a medium or low degree of credit worthiness, the so called sub prime lending. They traded with collateralized debt obligations (CDO), which bunch the risk of those loans. Due to the decline in prices of properties and the increase in interest rate debtors got into trouble. Therefore the CDOs lost worth and the funds became bankrupt. Even if that is very problematic for the investors and the investment bank some economists think, that there could occur bigger problems. Meanwhile there are rumours that other funds got into trouble and economists worry that they could destabilize the whole financial system, due to their close relations to other financial institutions. Banks, in particular, which financed the funds, are in danger of being affected. Whether this small crisis will spread or not can actually not be answered. In the next days and months that remains to be seen. But for sure the discussion about hedge funds will be renewed. Therefore this essay will deal with that complicated topic. It is tried to explain what hedge funds are and how they work. For this purpose, first of all a proper definition for hedge funds is given. Secondly, the origin of hedge funds will be described and then the typical characteristics will be elaborated. Next, there is a short overview of the common strategies and about the development of hedge funds given. In the last part, the positive and the negative aspects will be described. Finally a short summary and a future outlook will end this paper.
Author: William J. Crerend
Publisher: McGraw Hill Professional
ISBN: 9780070135222
Category : Business & Economics
Languages : en
Pages : 212
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Book Description
Analyzing the five common investment strategies with historical performance results, this text presents discussions of all legal forms of hedge funds with particular emphasis on domestic funds. It also explains quantitative and qualitative strategies for evaluating fund managers.
