How will the funds of hedge funds (FoHF) business have to change to survive in the wake of the 2008-2012 financial crisis? This new research provides valuable insight. Reconsidering Funds of Hedge Funds presents the first comprehensive views of UCITS as well as recent trends in due diligence, risk management, and hedge fund deaths and survivors. The book contains original chapters by 22 academics and 16 hedge fund professionals, and includes two sections on performance: one that looks at UCITS FoHF and one that deals with traditional FoHF performance. Most chapters examine aspects of the 2008-2012 financial crisis, and almost every chapter addresses fund of hedge funds' management process before, during, and after the crisis.
1. Introduction 2. Chapter 1. After the Crisis: The Withering of the Funds of Hedge Funds Business? 3. Section 1: Due Diligence and Risk Management 4. Chapter 2. Evaluating Trends in Funds of Hedge Funds Operational Due Diligence 5. Chapter 3. The Limits of UCITS for Funds of Hedge Funds 6. Chapter 4. Due Diligence: Lessons from the Global Financial Crisis for Funds of Hedge Funds with Particular Emphasis on the Asia–Pacific Region 7. Chapter 5. The Use of Managed Accounts by Funds of Hedge Funds 8. Chapter 6. Choice of Risk Measure in Evaluating UCITS Funds of Hedge Funds 9. Section 2: UCITS Performance 10. Chapter 7. UCITS Funds of Hedge Funds – The New Panacea? 11. Chapter 8. The Return Potential of UCITS Funds of Hedge Funds: An Analysis of their Investment Universe 12. Chapter 9. How Geography, Flows, and Size Affect the Risk-Adjusted Performance of UCITS III Funds of Hedge Funds 13. Chapter 10. Funds of Hedge Funds versus Do-It-Yourself Funds of UCITS 14. Section 3: Performance 15. Chapter 11. Predicting Funds of Hedge Funds Attrition Through Performance Diagnostics 16. Chapter 12. Does Funds of Hedge Funds Size Matter? Size versus Performance Before, During, and After the Crisis 17. Chapter 13. Normalized Risk-Adjusted Performance Measures Revisited: The Performance of Funds of Hedge Funds Before and After the Crisis 18. Chapter 14. The Impact of the 2008 Financial Crisis on Funds of Hedge Funds 19. Chapter 15. Forecasting Funds of Hedge Funds Performance: A Markov Regime-Switching Approach 20. Chapter 16. A Panel-Based Quantile Regression Analysis of Funds of Hedge Funds 21. Section 4: Fund of Hedge Fund Alpha 22. Chapter 17. Reward-to-Risk Ratios of Funds of Hedge Funds 23. Chapter 18. The Short-Run Performance Persistence in Funds of Hedge Funds 24. Chapter 19. ‘Seeking Alpha’: The Performance of Funds of Hedge Funds 25. Chapter 20. Quantitative Insight into Management of Funds of Hedge Funds and Consequences on Fund Alpha Performance 26. Chapter 21. Selecting Top Funds of Hedge Funds Based on Alpha and Other Performance Measures 27. Chapter 22. Funds of Hedge Funds Strategies and Implications for Asset Management: Is Diversification Enough? 28. Section 5: Tail Risk 29. Chapter 23. The Intertemporal Relation between Tail Risk and Funds of Hedge Funds Returns 30. Chapter 24. Tail Risk Protection for Funds of Hedge Funds 31. Chapter 25. Autocorrelation, Bias, and Fat Tails: An Analysis of Funds of Hedge Funds 32. Chapter 26. Crises and Funds of Hedge Funds Tail Risk 33. Chapter 27. Funds of Hedge Funds, Efficient Portfolios, and Investor Clienteles: Empirical Evidence from Growth and Financial Crisis Periods 34. Section 6: Regulation 35. Chapter 28. Regulation: Threat or Opportunity for the Funds of Hedge Funds Industry? 36. Chapter 29. Funds of Hedge Funds and the Principles of Fiduciary Investing Following the Global Financial Crisis 37. Chapter 30. Understanding the Regulation Impact: US Funds of Hedge Funds After the Crisis 38. Chapter 31. Canada and Australia: Do They Provide a Regulatory Model for Funds of Hedge Funds? 39. Chapter 32. South African Regulatory Reforms of Funds of Hedge Funds 40. Index
How will the funds of hedge funds (FoHF) business have to change to survive in the wake of the 2008-2012 financial crisis? This new research provides valuable insight. Reconsidering Funds of Hedge Funds presents the first comprehensive views of UCITS as well as recent trends in due diligence, risk management, and hedge fund deaths and survivors. The book contains original chapters by 22 academics and 16 hedge fund professionals, and includes two sections on performance: one that looks at UCITS FoHF and one that deals with traditional FoHF performance. Most chapters examine aspects of the 2008-2012 financial crisis, and almost every chapter addresses fund of hedge funds' management process before, during, and after the crisis.
1. Introduction 2. Chapter 1. After the Crisis: The Withering of the Funds of Hedge Funds Business? 3. Section 1: Due Diligence and Risk Management 4. Chapter 2. Evaluating Trends in Funds of Hedge Funds Operational Due Diligence 5. Chapter 3. The Limits of UCITS for Funds of Hedge Funds 6. Chapter 4. Due Diligence: Lessons from the Global Financial Crisis for Funds of Hedge Funds with Particular Emphasis on the Asia–Pacific Region 7. Chapter 5. The Use of Managed Accounts by Funds of Hedge Funds 8. Chapter 6. Choice of Risk Measure in Evaluating UCITS Funds of Hedge Funds 9. Section 2: UCITS Performance 10. Chapter 7. UCITS Funds of Hedge Funds – The New Panacea? 11. Chapter 8. The Return Potential of UCITS Funds of Hedge Funds: An Analysis of their Investment Universe 12. Chapter 9. How Geography, Flows, and Size Affect the Risk-Adjusted Performance of UCITS III Funds of Hedge Funds 13. Chapter 10. Funds of Hedge Funds versus Do-It-Yourself Funds of UCITS 14. Section 3: Performance 15. Chapter 11. Predicting Funds of Hedge Funds Attrition Through Performance Diagnostics 16. Chapter 12. Does Funds of Hedge Funds Size Matter? Size versus Performance Before, During, and After the Crisis 17. Chapter 13. Normalized Risk-Adjusted Performance Measures Revisited: The Performance of Funds of Hedge Funds Before and After the Crisis 18. Chapter 14. The Impact of the 2008 Financial Crisis on Funds of Hedge Funds 19. Chapter 15. Forecasting Funds of Hedge Funds Performance: A Markov Regime-Switching Approach 20. Chapter 16. A Panel-Based Quantile Regression Analysis of Funds of Hedge Funds 21. Section 4: Fund of Hedge Fund Alpha 22. Chapter 17. Reward-to-Risk Ratios of Funds of Hedge Funds 23. Chapter 18. The Short-Run Performance Persistence in Funds of Hedge Funds 24. Chapter 19. ‘Seeking Alpha’: The Performance of Funds of Hedge Funds 25. Chapter 20. Quantitative Insight into Management of Funds of Hedge Funds and Consequences on Fund Alpha Performance 26. Chapter 21. Selecting Top Funds of Hedge Funds Based on Alpha and Other Performance Measures 27. Chapter 22. Funds of Hedge Funds Strategies and Implications for Asset Management: Is Diversification Enough? 28. Section 5: Tail Risk 29. Chapter 23. The Intertemporal Relation between Tail Risk and Funds of Hedge Funds Returns 30. Chapter 24. Tail Risk Protection for Funds of Hedge Funds 31. Chapter 25. Autocorrelation, Bias, and Fat Tails: An Analysis of Funds of Hedge Funds 32. Chapter 26. Crises and Funds of Hedge Funds Tail Risk 33. Chapter 27. Funds of Hedge Funds, Efficient Portfolios, and Investor Clienteles: Empirical Evidence from Growth and Financial Crisis Periods 34. Section 6: Regulation 35. Chapter 28. Regulation: Threat or Opportunity for the Funds of Hedge Funds Industry? 36. Chapter 29. Funds of Hedge Funds and the Principles of Fiduciary Investing Following the Global Financial Crisis 37. Chapter 30. Understanding the Regulation Impact: US Funds of Hedge Funds After the Crisis 38. Chapter 31. Canada and Australia: Do They Provide a Regulatory Model for Funds of Hedge Funds? 39. Chapter 32. South African Regulatory Reforms of Funds of Hedge Funds 40. Index
