By IMCA, Kenneth S. Phillips, Ronald J. Surz

A well-rounded hedge fund consultant for the intense monetary professionalAlternative funding strategies-hedge cash in particular-have skilled an important resurgence lately, principally in accordance with the dramatic downturn of the worldwide fairness markets. in accordance with this explosion in attractiveness, this e-book specializes in some of the most sensible profitable concepts on the topic of those substitute funding vehicles.IMCA (The funding administration specialists organization) is a certified organization demonstrated in 1985, representing the funding consulting career within the U.S. and Canada. Kenneth S. Phillips is a member of the IMCA Advisory Council and dealing with important of Capital companions, LLC. Ron Surz, CIMA, is a member of the IMCA Board of administrators and the President of PPCA Inc.

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2), like multimanager pools offered by traditional asset management firms, spread investments among different fund vehicles and strategies. 2 Fund of Hedge Funds PROS • Professional asset allocation, manager research/selection • Access to potentially closed managers • Increased diversification (10–100 funds) • Single point of client services • Consolidated reporting/monitoring CONS • Additional layer of fees associated with fund management and administrative services Investor Fund-of-Funds Mgr 1 Mgr 2 Mgr 3 Mgr 4 Additional Mgrs Funds of Hedge Funds: Definitive Overview of Strategies and Techniques 29 the most skillful managers available).

S. institutional consultants offered no guidance on hedge funds for their clients. 87% of institutions investing in hedge funds use a consultant in some capacity. CONCLUSION In general, funds of hedge funds represent an important trend in investment management that is in its infancy. This under-appreciated form of asset management has gained in popularity because it has delivered on the promise of lower volatility than investing directly in hedge funds and low correlation to the stock market.

Source: Altvest (December 2001). such things as market capitalizations, industry groups, short sales, derivatives, and leverage. Since many, if not most, institutions are investing in, or contemplating entering, hedge funds through investments in funds of funds, it then falls to these pooled vehicles to address the transparency issue. Over the past few years, several risk management firms have begun working closely with the hedge fund community in an attempt to provide a solution to transparency demands.

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