Building Efficient Hedge Fund Portfolios
Investors typically allocate assets to hedge funds to access return, risk and diversification characteristics they can’t get from other investments. The hedge fund universe includes a wide variety of strategies and styles that can help investors achieve this objective. Why then, do so many investors make significant allocations to hedge fund strategies that provide the least portfolio benefit? In this paper, we look to hedge fund data for evidence that investors appear to be missing out on the core benefits of hedge fund investing and we attempt to understand why.
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