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A finance blog about private equity, commodities, and other alternative asset classes.
Updated: 12 min 17 sec ago

EIU on Institutions and Time Horizons

Thu, 10/19/2017 - 20:00
With the  sponsorship of Franklin Templeton, The Economist Intelligence Unit (EIU)  has surveyed  143 investing institutions in North America (part of the global sample of 571) in order to study recent shifts in their portfolio allocation, especially with an eye to the risks that concern them and the length ofRead More
Categories: AllAboutAlpha

Hedge Fund Strategies in the Aftermath of Global Crisis

Thu, 10/19/2017 - 20:00
Mariya Domina Repiquet, a candidate for the Master of Science in international finance at the University of Strasbourg, has written a paper analyzing hedge fund investment styles and strategies just after the global financial crisis, that is, in the period 2009-10. The work combines a trip down memory lane (importantRead More
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Outsourced assets under management up 18% year-over-year

Wed, 10/18/2017 - 20:00
By Charles Skorina With 76 firms heard from, we’re now reporting $1.62 trillion in full-discretion assets under management by outsourced chief investment officer firms. That’s a year-over-year jump of $292 billion – or 18 percent – since September, 2016. The number of reported RFPs is also rising as institutions seek better returnsRead More
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International Debt Enforcement: Nautical Twists and Turns

Tue, 10/17/2017 - 20:00
Since sovereign debts and collection issues we shall always have with us, it is not amiss to look back four years to a decision by the Supreme Court of Ghana issued in June 2013, on NML Capital’s effort to enforce its judgment against the Republic of Argentina through the seizureRead More
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Mon, 10/16/2017 - 20:00
By Diane Harrison Despite being overused in finance, the golfing analogy ‘Drive for show, putt for dough’ bears relevance in alternative investments. While the bigger, flashier managers in alternatives often garner the most media and investor attention, smaller managers have a real chance to exhibit their investment acumen through theRead More
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Private Credit Industry: Supply and Demand

Sun, 10/15/2017 - 20:00
The Alternative Credit Council, an affiliate of the Alternative Investment Management Association, has put out a paper on the present state of the private credit industry, considering both the demand (from borrowers) for its services and the supply (from investors) of capital to lend. In preparing this paper, the ACCRead More
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EDHEC, New Research, and Hyper-illiquid Assets

Thu, 10/12/2017 - 20:00
The EDHEC Infrastructure Institute – Singapore has published a new paper describing what it calls the “very first results of an ambitious project to create investment benchmarks for long-term investors in infrastructure.” The Institute is host to a dedicated team, who for years now have been collecting and aggregating primaryRead More
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Alpha Generation and Real-Time Data

Tue, 10/10/2017 - 20:00
In a recent paper, Michael W. Brandt and two colleagues look into whether hedge funds “adjust the conditional market exposure in response to real-time changes in macroeconomic conditions, and whether doing so improves their performance.” The paper is a short one but it may punch above its weight in severalRead More
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The State of Alternative Investments in Australia and New Zealand 

Sun, 10/08/2017 - 20:00
A new Preqin paper presents the state of the alternatives investment industry in Australia and New Zealand. Mark O’Hare, the CEO of Preqin, says in a Foreword that Preqin’s databases track 481 fund managers active in one or the other of those two countries, and 443 “significant institutional investors” TheRead More
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Performance of SRIs: Funds and Indexes

Thu, 10/05/2017 - 20:00
A new paper by Giuseppe Risalvato, a Ph.D. candidate at Università Carlo Cattaneo, Italy, contends that there is no “ethical sacrifice” in investing. That is, there is no discount that investors who want to be socially responsible will have to pay for that choice. Risalvato makes two chief theoretical argumentsRead More
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Alternative Investments in Target Date Funds

Tue, 10/03/2017 - 20:00
Vanguard, the manager of about 370 low cost traditional funds and ETFs, and an institution famously associated with low cost retail investing, has made public a new paper on the inclusion of alternative investments in target date funds. It isn’t enamored of the idea. Target date funds (TDFs), otherwise knownRead More
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The Function of the High-Watermark: Not What You Think

Sun, 10/01/2017 - 20:00
A new paper in the Journal of Accounting and Finance discusses hurdle rates and high watermarks, and how they affect, or at least correlate with, performance. A hurdle rate is a minimum contractually specified rate of return that a hedge fund must achieve in order to collect performance fees. ARead More
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AIMA and SGPS on Managed Futures and CTAs

Thu, 09/28/2017 - 20:00
The Alternative Investment Management Association and Societe Generale Prime Services have together put out a white paper about managed futures funds and the commodity trading advisers who manage them. A key themes of the paper is that managed futures strategies aren’t as risky as are typical investments in equity markets.Read More
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Cautious Numbers Estimates: A Comparative Look

Tue, 09/26/2017 - 20:00
On August 29, we at AllAboutAlpha ran a summary of the latest Eurekahedge report, saying that total hedge fund industry assets around the globe were $2.33 trillion, and that this figure was up by $108.6 billion over the first seven months of 2017. We heard soon thereafter from a readerRead More
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Hedge Fund Activism: The Facts Don’t Bear Out the Dire Warnings

Sun, 09/24/2017 - 20:00
Lucian Bebchuk, a professor at Harvard Law, has been at the heart of scholarly arguments over corporate governance for a long time, perhaps since 1990, the year he edited a textbook on Corporate Law and Economic Analysis. That was also the year Bebchuk, along with Marcel Kahan, authored a seminalRead More
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SUNY Scholars: Hedge Funds are Smart about PIPES

Thu, 09/21/2017 - 20:00
Two scholars affiliated with the State University of New York at Albany recently looked into the roles of hedge funds in corporate misreporting. Specifically, they used a database of PIPE issuers. The resulting paper, by Na Dai (Associate Professor of Finance at SUNY) and Alfred Zhu Liu (Assistant Professor ofRead More
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Barnes on Swaps Transparency under  MiFID II

Tue, 09/19/2017 - 20:00
A recent blog in the TABB Forum, by Chris Barnes of Clarus Financial Technology, looks at recent developments in the realm of MiFID, and looks forward. The UK’s Financial Conduct Authority in August of this year authorized certain Approved Publication Arrangements (APAs) for reporting under MiFID II.  The authorization ofRead More
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Mon, 09/18/2017 - 20:00
By Diane Harrison There’s no denying that one of the biggest challenges small managers face is raising capital. To become large enough to turn a profit and expand is a common migraine that keeps emerging managers up at night. Forget fretting over last quarter’s performance: most of these managers obsessRead More
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Aon: Alternative Risk Premia Viable for Many

Sun, 09/17/2017 - 20:00
A new report from Aon discusses the contemporary market for alternative risk premia: where it is, how it got here; where it may be headed. The authors, Matthew Towsey and Chris Walvoord, begin with some very basic considerations of what ‘risk premia’ are. They are, on the one hand, theRead More
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A Call to Norway to Invest in Renewables

Thu, 09/14/2017 - 20:00
A new paper from the Institute for Energy Economics and Financial Analysis looks at Norway’s pension fund, which is now in the process of increasing its investment in stock from 62.5% of the portfolio to 70%. The total portfolio value is now $7.5 trillion NOK, or about US $976 billion.Read More
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