Corporate Solutions

Classroom - list of courses

Hedge Funds Demystified

 

Introduction

• Hedge Funds defined. Lock-ups, Gates, Hurdle Rates, Side Pockets
• The pursuit of Absolute Return & Performance Fees
• How large is the Hedge Fund Universe? The numbers in context
• Where are they? Domicile, Onshore vs Offshore
• Asset Class performance or Manager value-added? The search for Alpha

Hedge Fund Tactics, Counter-Parties and Competition

Tactics - Leverage & Short Selling. Regulatory intervention & increased transparency
Where is the competition? The reaction from the traditional Fund Managers
UCITS III – Hedge Funds ‘lite’?
External Relationships - Prime Brokerage, Custodians, Fund Administrators

Issues for Hedge Fund Investors

Rationale for Hedge Funds in an Investors’ Portfolio. Is it still there?
The non-correlated Asset Class, Survivorship Bias, Drawdown
The changing Investor base – Institutions are now the target market
Leverage, Risk and Transparency
Risk-adjusted performance measurement
Institutionalisation of Hedge Funds, Index Providers – Benchmark Risk

Risk Management for Hedge Funds

Market , leverage and Credit risk
Political and legal risk
Gap and liquidity risk, Mark-to-market risk
Why do Hedge Funds fail? Do not forget Operational Risk
Tools for the Analysis of Financial Risk – From VaR to Stress Testing
The Regulator’s standpoint