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Informationen zum Autor About the author FRANÇOIS-SERGE LHABITANT, PHD, is Chief Investment Officer at Kedge Capital in London. He was formerly a Member of Senior Management at Union Bancaire Privée, and prior to this, a Director at UBS/Global Asset Management. On the academic side, he is a Professor of Finance at the University of Lausanne and at EDHEC Business School. His specialist skills are in the areas of alternative investment (hedge funds) and emerging markets. He is the author of several books on these two subjects and has published numerous research and scientific popularisation articles. He is also a member of the Scientific Council of the Autorité des Marches Financiers , the French regulatory body. Klappentext Handbook of hedge funds Hedge funds are the fastest growing sector of the financial industry, and this trend is set to continue. Non technical yet sophisticated, the Handbook of Hedge Funds removes the veil of secrecy that surrounds these often misunderstood investment vehicles. Blending facts, practical tips, and personal insights, written by an expert in the field, it provides a complete analysis of what hedge funds are, how they operate, and how they should be used in a portfolio. The Handbook of Hedge Funds provides: A discussion on the history and regulation of hedge funds Detailed analysis of hedge fund strategies illustrated by trade examples from successful hedge fund managers A complete guide on the various risk and return statistics used by hedge funds A description of existing hedge fund databases and indices. An overview of how to use hedge funds in portfolio construction New material on structured products and funds of hedge funds This book includes a foreword by Mark Anson, CIO of Hermes Investments. "Lhabitant takes us from the early 1930s to the latest cutting edge research in the field of hedge funds, blending both theoretical and practical information in this handbook and leaving no stone unturned. This new updated text with its panoply of new information, loads of examples and cases for educational purposes is well worth the investment. It is a must for beginners, institutional investors and money managers, lawyers, accountants, academics. In essence the bible of hedge fund books, you cannot ask for better." -Greg N. Gregoriou, Ph.D, Associate Professor of Finance, State University of New York (Plattsburgh) Zusammenfassung A comprehensive guide to the burgeoning hedge fund industry Intended as a comprehensive reference for investors and fund and portfolio managers, Handbook of Hedge Funds combines new material with updated information from Francois-Serge L'habitant's two other successful hedge fund books. Inhaltsverzeichnis Foreword by Mark Anson xv 1 Introduction 1 PART I HEDGE FUND OVERVIEW 2 History Revisited 7 2.1 The very early years: The 1930s 7 2.2 The formative years (1949-1968) 8 2.3 The dark ages (1969-1974) 11 2.4 The renaissance (1975-1997) 12 2.5 The Asian and Russian crises (1997-1998) 15 2.6 The equity bubble years 18 2.7 Hedge funds today 19 2.8 The key characteristics of modern hedge funds 24 2.9 The future 35 3 Legal Environment 37 3.1 The situation in the US 39 3.1.1 The Securities Act (1933) 39 3.1.2 Securities Exchange Act (1934) 44 3.1.3 Investment Company Act 46 3.1.4 Investment Advisers Act (1940) 48 3.1.5 Blue-sky laws 55 3.1.6 National Securities Markets Improvement Act (1996) 55 3.1.7 Employee Retirement Income Security Act (1974) 56 3.1.8 Other regulations 56 3.1.9 The Commodity Futures Trading Commission 57 3.2 The situation in Europe 59 3.2.1 The UCITS directives and mutual fund regulation 59 3.2.2 The case of European hedge funds 62 3....
