Alternative Beta Strategies and Hedge Fund Replication by Lars Jaeger

By Lars Jaeger

There s a buzzword that has fast captured the mind's eye of product services and traders alike: "hedge fund replication". within the broadest feel, replicating hedge fund recommendations ability replicating their go back assets and corresponding danger exposures. even though, there nonetheless lacks a coherent photo on what hedge fund replication potential in perform, what its premises are, tips to distinguish di erent methods, and the place this may lead us to.

Serving as a guide for replicating the returns of hedge cash at significantly cheaper price, Alternative Beta concepts and Hedge Fund Replication offers a different concentrate on replication, explaining alongside the way in which the go back assets of hedge money, and their systematic dangers, that make replication attainable. It explains the heritage to the hot dialogue on hedge fund replication and the way to derive the returns of many hedge fund concepts at a lot lower price, it differentiates a few of the underlying methods and explains how hedge fund replication can enhance your individual funding approach into hedge funds.

Written via the well-known Hedge Fund specialist and writer Lars Jaeger, the e-book is split into 3 sections: Hedge Fund historical past, go back assets, and Replication concepts. part one offers a brief path in what hedge cash really are and the way they function, arming the reader with the historical past wisdom required for the remainder of the booklet. part illuminates the resources from which hedge cash derive their returns and indicates that most of hedge fund returns derive from systematic chance publicity instead of supervisor "Alpha". part 3 offers a variety of methods to replicating hedge fund returns through providing the 1st and moment iteration of hedge fund replication items, issues out the pitfalls and strengths of some of the techniques and illustrates the mathematical suggestions that underlie them.

With hedge fund replication going mainstream, this e-book offers transparent information at the subject to maximize returns.

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But he became more broadly known as an author, capitalism critic, and humanitarian. ’, the first futures-based investment program in commodity markets and pioneered a technical trading method today known as ‘trend following’. 32 Around this time, ‘managed futures’ strategies were more broadly developed by what today are referred to as ‘commodity trading advisors’ (CTAs). In 1965, Dunn and Hagitt started trading commodity futures using technical trading systems. This same team later offered the first offshore commodity pool in 1973.

The two main categories of these newer hedge fund strategies are Relative Value and Event Driven. Both of these strategies display impressive risk–return characteristics, even when compared to those of more established hedge fund strategies. However, they generate their returns from very different investment concepts than the Long/Short Equity, Managed Futures, or Global Macro strategies. Relative Value 31 Aristotle tells the story of Thales of Miletus performing an option-like trade on olives about 2500 years ago; see Aristotle The Politics, Cambridge University Press (1988), p.

It will be key for the industry to convince investors that hedge funds are not just 45 W. Fung, D.

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