Hedge Funds Overview

Hedge Funds Overview Training Course

Content Introduction

Hedge Funds defined. Lock-ups, Gates, Hurdle Rates.

The pursuit of Absolute Return & Performance Fees. So what happened in 2008?

How large is the Hedge Fund Universe? Lesson from 2008: Smaller than it was.

Where are they? Domicile, Onshore vs Offshore.

Asset Class performance or Manager value-added? The search for Alpha

Hedge Fund Tactics, Counter-Parties & Competition

Tactics-Leverage and Short Selling. Lesson from 2008: Regulatory intervention.

Where is the competition? The reaction from the traditional Fund Managers.

External Relationships- Prime Brokerage, Custodians, Fund Administrators

Lesson from 2008: Counterparty Risk

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.

Lesson from 2008: HNWIs leaving the ship, Institutions more cautious

Lesson from 2008: Liquidity mismatch

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

Due Dilligence. Lesson from 2008: The Madoff affair.

Tools for the Analysis of Financial Risk- from VaR to Stress Testing.

The Regulator's Standpoint