haku: @indexterm hedging / yhteensä: 349
viite: 82 / 349
Tekijä: | Amenc, N. Martellini, L. Vaissie, M. |
Otsikko: | Benefits and Risks of Alternative Investment Strategies |
Lehti: | Journal of Asset Management
2003 : AUG, VOL. 4:2, p.96-118 |
Asiasana: | HEDGING ASSETS PRICING RISK RISK ANALYSIS |
Kieli: | eng |
Tiivistelmä: | This paper argues that a proper understanding of hedge fund risk extends much beyond a straightforward measure of linear exposure to market risk, and provides a detailed analysis of how modern portfolio theory allows the presence of these rewarded sources of risk. The contrasted exposures of hedge fund managers to a large number of risk factors poses serious challenges to the investor, as it requires the use of appropriate techniques dedicated to their measure and control. In contrast, it is argued that this is also the driving force behind the diversification benefits investors enjoy when investing in hedge funds. The main message can be summarised as follows: the benefits and risks or alternative investment strategies are two facets of the same coin. |
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