While hedge fund managers did a better job of preserving capital than traditional asset managers in 2008, it was a disappointing year for hedge funds. Despite this, we strongly believe that the current shakeout in the industry is a net positive for long-term hedge fund investors, although significant near-term challenges for managers remain. In the…
This expansive report discusses our approach to strategy allocation by providing the basic framework for allocation decisions, the key return drivers and investment backdrops in the core marketable alternative strategies, and recommendations for program construction. It also contains a performance review of the five core marketable alternative strategies: long/short equities, distressed securities, convertible arbitrage, merger…
The rapid growth and maturation of the hedge fund industry has sparked a debate about the role of marketable alternative investments in institutional portfolios. This report is examines whether the growth and maturation of the industry has made marketable alternative investments less compelling, explores other trends that are transforming the competitive landscape in the industry,…