Technical paper/Hedge funds

Questions abound over Ucits hedge funds

The directive on alternative investment fund managers (AIFM) will not necessarily allow professional investors to buy the funds offered to them. Controversy around the directive, together with uncertainty about the distribution of funds it will allow,…

Beyond diversification: absolute return funds of ETFs

In the March article we drew on a recent Edhec-Risk Institute publication on risk control through dynamic core-satellite portfolios of exchange traded funds (ETFs) supported by Amundi (1) to look at the dynamic core-satellite approach to risk management…

Fund performance raises specific issues

Unlike the returns of common stocks and mutual funds, hedge fund returns are generally not normally distributed.1,i This has considerable consequences on a number of hedge fund risk measures, as presented in last month’s article, which was drawn from the…