We have introduced the idea that any alpha one thinks that equity hedge funds provide is derived from exposure to the risk premia strategy described in this paper
For anyone who has set out to raise money for a hedge fund it can be a slog to say the least. It’s an inefficient process at best: dialing for dollars, shuffling from conference to conference, and constantly tweaking marketing decks that look the same as everyone else’s
The global custody world is responding by building an entire ecosystem that digitises systems and processes all geared toward assisting efficient decision-making
As interest rates begin to rise from historically low levels, investors should be cognizant that a performance fee on total performance creates a larger drag on a hedge fund’s ability to outperform a mix of stocks and bonds that has similar exposures, risks, and objectives
Based on anecdotal evidence from a number of sources, it does seem as if Latin American investors are taking more of an interest in non-American assets