-
This article investigates the post-crisis preferences of hedge fund investors. The authors show that after the 2008 crisis, when money again started to flow into hedge funds, investors continued to chase the past best performers. In that sense,...
Journal of Alternative Investments
The Journal of Alternative Investments is the official publication of the Chartered Alternative Investment Analyst (CAIA) Association. Founded in 1998, JAI is the leading source of cutting-edge research and analysis in the field of alternative investments. Topics covered include asset allocation, risk management, indexing, regulation, and taxation, among a variety of others.
In addition to a free subscription to the Journal of Alternative Investments, CAIA members receive discounts for a number of Institutional Investor publications.
Journal of Alternative Investments
-
In this article, the author postulates a framework for aligning interests between investors and managers with respect to liquidity terms, performance compensation, and transparency by the application of terms and conditions.
-
Different art objects are likely to be priced by means of different systems of hedonic characteristics; more precisely, different evaluation procedures for high- and low-price items are often postulated. However, the empirical evidence on this point...
-
While the impact of backfill bias, survivor bias, and other database construction issues (e.g., onshore versus offshore) on hedge fund performance have received considerable research attention, the impact on hedge fund performance of differences in...
-
Increasingly, insurance-linked securities (ILS) are being seen as a source of alternative beta. Modern asset pricing theory suggests a general framework in which risk premia can be systematically modeled. From an investor’s point of view, this...
-
In this article, the authors analyze the investment performance of a large database of venture funds sourced from two limited partners. The results suggest that a portfolio of venture capital partnerships can provide an average return that is...
-
In an ideal world, hedging the risk of fund outflows would simply involve the purchase of state-dependent securities that pay a nominal amount if outflows occur and nothing in other states of the world. However, securities of this type are not...