By
Greg Gregoriou, Professor of Finance in the School of Business and Economics, State University of New York, Plattsburgh
Description
With about $450 billion in assets, funds of hedge funds are the most recent darling of investors. While hedge funds carry high risk for
the promise of high returns they are designed for the very rich and for large institutional investors such as pension funds. A Fund
of Hedge Funds (FOF) spreads investments among a number of hedge funds to reduce risk and provide diversification, while maintaining
the potential for higher than average returns. Odds are that some pension fund of yours is invested heavily in these products, and more
recently these FOFs have been opened to more and more individual investors in offshore jurisdictions with lower minimum entry levels.
Since this is a new and extremely fast-moving financial phenomenon, academic research has just begun in earnest, and this is the first
book to present rigorous academic research by some of the leading lights in academic finance, carefully analyzing the broad array of
issues involved in FOFs.
Included in series
Quantitative Finance
Audience:
Primary audience: Researchers and academics in Finance.
