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Informationen zum Autor MARK J. P. ANSON, PHD, CFA, CAIA, CPA, JD, is CEO of Hermes Pension Management Ltd. in London, which has over £65 billion in assets under management, and is the former CIO of CalPERS, where he oversaw the growth of assets from $127 billion to $210 billion. Anson has more than twenty years of investment experience in fixed income, equities, private equity, real estate, commodities, hedge funds, corporate governance, and credit derivatives. Klappentext Since the first edition of the Handbook of Alternative Assets was published, significant events-from the popping of the technology bubble and massive accounting scandals to recessions and bear markets-have shifted the financial landscape. These changes have provided author Mark J. P. Anson with an excellent opportunity to examine alternative assets during a different part of the economic cycle than previously observed in the first edition.Fully revised and updated to reflect today's financial realities, the Handbook of Alternative Assets, Second Edition covers the five major classes of alternative assets-hedge funds, commodity and managed futures, private equity, credit derivatives, and corporate governance-and outlines the strategies you can use to efficiently incorporate these assets into any portfolio. Throughout the book, new chapters have been added, different data sources accessed, and new conclusions reached.Designed as both an introduction to the world of alternative assets and as a reference for the active investor, the Handbook of Alternative Assets, Second Edition will help you match alternative assets with your various investment goals. Zusammenfassung This fully updated revision examines the five major classes of alternative assets: hedge funds, private equity, commodity futures, managed futures, and credit derivatives. These asset classes provide sources of risk and return distinct from the traditional asset classes of stocks and bonds. Inhaltsverzeichnis Preface ix About the Author xi PART ONE Overview of Alternative Assets 1 CHAPTER 1 What Is an Alternative Asset Class? 3 CHAPTER 2 Why Alternative Assets Are Important: Beta Drivers and Alpha Drivers 15 PART TWO Hedge Funds 29 CHAPTER 3 Introduction to Hedge Funds 31 CHAPTER 4 Establishing a Hedge Fund Investment Program 71 CHAPTER 5 Due Diligence for Hedge Fund Managers 97 CHAPTER 6 Risk Management Part I: Hedge Fund Return Distributions 135 CHAPTER 7 Risk Management Part II: Additional Hedge Fund Risks 169 CHAPTER 8 Regulation of Hedge Funds 203 CHAPTER 9 Hedge Fund Benchmarks and Asset Allocation 229 CHAPTER 10 Hedge Fund Incentive Fees and the "Free Option" 251 CHAPTER 11 Top Ten Hedge Fund Quotes 265 PART THREE Commodities and Managed Futures 275 CHAPTER 12 Introduction to Commodities 277 CHAPTER 13 Investing in Commodity Futures 305 CHAPTER 14 Commodity Futures in a Portfolio Context 333 CHAPTER 15 Managed Futures 353 PART FOUR Private Equity 377 CHAPTER 16 Introduction to Venture Capital 379 CHAPTER 17 Introduction to Leveraged Buyouts 419 CHAPTER 18 Debt as Private Equity Part I: Mezzanine Debt 455 CHAPTER 19 Debt as Private Equity Part II: Distressed Debt 477 CHAPTER 20 The Economics of Private Equity 501 CHAPTER 21 Performance Measurement for Private Equity 523 CHAPTER 22 Trends in Private Equity 553 PART FIVE Credit Derivatives 577 CHAPTER 23 Introduction to Credit Derivatives 579 CHAPTER 24 Collateralized Debt Obligations 609 CHAPTER 25 Collateralized Fund Obligations: Intersection of Credit Derivative Market and Hedge Fund World 653 PART SIX Corporate Governance 667 CHAPTER 26 Corporate Governance as an Alternative Investment Strategy 669 Index 6...
