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Private equity investment in technologies which deliver low carbon energy has grown as an area of both economic and social performance. This article offers a perspective on some of the challenges in the industry. It relies on case studies drawn...
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Curriculum
 | The new CAIA Knowledge Series: a comprehensive collection of texts written specifically for the CAIA program. |
Recent Resources
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Journal of Alternative Investments. 2011.Vol. 13, no. 3.In recent years, there has been a dramatic increase in the number of systematic algorithmic products that attempt to capture the risk and return of a particular asset class or fund strategy. These products may be stand-alone investments created to...
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Motivated by the fast growth of personal wealth in emerging economies like Russia, the authors investigate the investment performance of modern Russian art. A hedonic analysis of more than 50,000 art transactions results in a geometric average...
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Journal of Alternative Investments. 2011.Vol. 13, no. 3.In this article the author looks at the impact of the ban on broad market indices in the U.S. and in Europe (the United Kingdom, France, and Germany). Since these indices and their performance are of great concern to the asset management and hedge...
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Journal of Alternative Investments. 2011.Vol. 13, no. 3.In this article, the authors show that investing in a portfolio of commodity hedge funds yields higher returns and a better control of downside risk than investing in long-only commodity indices. They also show that, contrary to a widespread belief...
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Journal of Alternative Investments. 2011.Vol. 13, no. 3.Average leverage is often used as a measure of risk. However, average leverage in a limited liability context should not be computed as a simple arithmetic average of the underlying constituents. In fact, using a simple arithmetic average can give...
Journal of Alternative Investments
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Infrastructure is regularly considered a natural hedge against inflation due to its monopolistic pricing power, the favorable regulatory regimes, and the limited operating cost exposure. In contrast to this often cited yet not empirically...
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Shipping, although a crucial component of the transportation of commodities worldwide, is hardly present in the finance literature at this point. The first and foremost goal of this article is to describe and explain from an economic perspective the...
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In this article, the authors design a new trading strategy by using cointegration as a measure of long-term dependencies. They show that the theoretical expected return of this strategy is always positive and illustrate it with four exchange traded...
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This article introduces the concept of asymmetric hedge fund replication based on the risk factor model approach. The presented methodology is founded on downside risk management and offers an enhancement of existing hedge fund replication...
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Hedge funds are frequently blamed for increasing volatility and illiquidity in financial markets. The author investigates the validity of this hypothesis by modeling the joint dynamics of hedge fund returns and volatility as well as illiquidity in...