This book discusses and describes four types of alternative assets: hedge funds, private equity, credit derivatives, and commodity futures. Hedge funds and private equity are the best known of the alternative assets, but certainly not the only alternative assets available. The author explores each one of these alternative asset classes in detail, providing practicaal advice along with useful research.
Зміст
About the Author.
Preface.
What is an Alternative Asset Class?
SECTION I: HEDGE FUNDS.
Introduction to Hedge Funds.
Establishing a Hedge Fund Investment Program.
Selecting a Hedge Fund Manager.
Due Diligence for Hedge Fund Managers.
Risk Management Part 1: Hedge Fund Return Distributions.
Risk Management Part II: Additional Hedge Fund Risks.
Regulation of Hedge Funds.
Should Hedge Funds Be Institutionalized?
SECTION II: COMMODITY AND MANAGED FUTURES.
Introduction to Commodities.
Investing in Commodity Futures.
Commodity Futures in a Portfolio Context.
Managed Futures.
SECTION III: PRIVATE EQUITY.
Introduction to Venture Capital.
Introduction to Leveraged Buyouts.
Debt as Private Equity.
The Economics of Private Equity.
Alternative Investment Strategies in Private Equity.
Performance Measurement for Private Equity.
SECTION IV: CREDIT DERIVATIVES.
Introduction to Credit Derivatives.
Collateralized Debt Obligations.
SECTION V: CORPORATE GOVERNANCE.
Corporate Governance as an Alternative Investment Strategy.
Index.
Про автора
MARK J. P. ANSON, Ph D, is the Chief Investment Officer at Calpers. Prior to joining Calpers, he was portfolio manager at Oppenheimer Funds, a registered options principal in equity derivatives for Salomon Brothers Inc., and a practicing attorney specializing in futures and derivatives markets. Dr. Anson earned his law degree from the Northwestern University School of Law and his Ph D and master’s in finance from the Columbia Graduate School of Business. He has also earned the Chartered Financial Analyst, Certified Public Accountant, Certified Internal Auditor, and Certified Management Accountant degrees. Dr. Anson is a frequent contributor to academic and professional publications on the topics of risk management, derivatives, and portfolio management.