How to Invest in Hedge Funds: An Investment Professional's Guide

Front Cover
Kogan Page Publishers, 2004 - Business & Economics - 409 pages
1 Review

Praise and Reviews

"As hundreds of billions of capital seek an appropriate match with thousands of hedge funds, Matthew Ridley has produced a survey of the major hedge fund strategies that will be of great utility to the novice or pro. Comprehensive, insightful, readable, leavened with common sense and wit, it is much like a Consulta due diligence review."

Bruce G Wilcox, Chairman, Cumberland Associates LLC

"Extremely informative - a thorough synopsis of how funds view different investments. Matt has taken a very complicated process and simplified it so everyone can understand it. After reading this book, everyone will believe they can manage a hedge fund."

Marc Lasry, Founder and Managing Partner, Avenue Capital Group

"In light of the recent equity bear market and increasing retail and institutional interest in hedge funds, Matt Ridley's book is a most timely introduction and analysis of this complex and diverse asset class."

Gary Brass, Managing Director, Consulta Limited

"An excellent book that gives a pragmatic coverage of the area without sacrificing depth, Ridley's lengthy experience of the asset class really shines through. This book should leave investment professionals new to the area with the skills they need to hit the ground running, ready to appraise, select and monitor hedge funds and hold their own even when analysing the most complex of strategies."

Dr Chris Jones, Director, Alternative Investment Strategies, io investors, Visiting Associ

Over the past decade hedge funds have experienced considerable growth as an alternative asset class. Disappointing returns from mainstream markets have stimulated the interest of a previously sceptical investment community. More and more asset managers are now providing their clients with access to hedge funds.

How to Invest in Hedge Funds is a clear, step-by-step guide for professionals investing in this area for the first time. It is a practical introduction to various types of hedge fund strategies, and how they work and develop over time. How to Invest in Hedge Funds provides a uniquely balanced picture that outlines both the strengths and weaknesses of this kind of fund.

Contents include:

definition, origin, structure and attributes of a typical hedge fund;

risks and merits of hedge funds;

how to select a hedge fund;

portfolio construction and management;

how to organize a hedge fund research effort;

chapters dedicated to explaining specific hedge fund strategies.

Written by one of the leading practitioners in the field, How to Invest in Hedge Funds is packed with practical information and guides the reader through the process of investing in this area.

 

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LibraryThing Review

User Review  - lt999 - LibraryThing

I thought the author did a decent job explaining what each hedge fund strategy does and what types of risk it has. Read full review

Contents

Introducing hedge funds
3
Questioning the merits of hedge funds
29
How to select a hedge fund
78
Portfolio construction and management
131
Equity longshort
141
Merger arbitrage
177
Statistical arbitrage
209
Convertible arbitrage
230
Fixed income arbitrage
266
Distressed securities
289
Hedged mortgage backed securities
319
Global macro and CTAs
345
Other hedge fund strategies
360
Selecting a fund of hedge funds
384
Concluding remarks
393
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About the author (2004)

Matthew Ridley has been in the hedge fund selection industry since 1994 when he joined Liberty Ermitage. Here he managed the Ermitage Emerging Markets Fund and attained a variety of awards for its performance. Since 2000 he has been at Consulta Limited acting as Head of Research. Matthew has extensive knowledge of the hedge fund industry both as an analyst and as a funds portfolio manager.

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