Book description
- A highly accessible primer on hedge fund risk illustrated with practical examples
- Analyses recent developments in risk management research
- Provides quality information for risk managers within different types of investment structures, e.g. investment banks, funds of funds, family offices, asset management firms, pension funds, endowments and foundations, and consultancies
- Contributions from leading practitioners with considerable expertise in their areas, drawn from, among others, AIG, Balfour Capital, Calpers, C-View, Evaluation Associates, Forest Investment Management, NetRisk and academia
- Essential reading for investment bankers, allocators, dealers, counterparties, prime brokers, institutions, private investors, corporate plan sponsors and consultants
Book details
- ISBN
- 9781904339403
- Publish date
- 1 Jun 2005
- Format
- Size
- 155mm x 235mm
Editor biography
Virginia Reynolds Parker
Virginia Reynolds Parker is the founder of Parker Global Strategies (PGS), a firm that specialises in custom designing and managing funds of hedge funds (FoHF) for institutional clients across the globe. Since 1995, PGS has designed over 20 multi-manager programmes and advised on over US$1.75 billion. PGS was among the first FoHF firms to apply risk management oversight to its funds.
Virginia has expertise in traditional and alternative investment strategies, and a strong background in currency risk and returns, risk measurement and management of multi-manager hedge fund portfolios. She has developed industry-recognised performance benchmarks for foreign exchange. Her research is widely published and she is a frequent speaker at industry conferences. From 1988 until 1995, Virginia was managing director and director of research and risk management at Ferrell Capital Management. Previously, she was the CIO for a family office. Virginia earned an AB in economics and political science from Duke University.
Virginia is an OPM graduate of Harvard Business School. She is a Chartered Financial Analyst, a member of the New York Society of Security Analysts, Stamford Society of Security Analysts, International Association of Financial Engineers, a founding member and angel of "100 Women in Hedge Funds" and serves on the Board of The Foundation for Managed Derivatives Research.
Table of contents
Introduction
Virginia Reynolds Parker
Parker Global Strategies LLC
PART I: PERSPECTIVES FROM THE INVESTORS
1 The Risk in Measuring Hedge Fund Performance
Mark J. P. Anson
CalPERS
2 Measuring Hedge Fund Performance
Ronald L-Liesching
Pareto Partners
3 Implementation Considerations When Using Absolute-Return Strategies for Traditional Portfolio Risk Reduction
Alan H. Dorsey
CRA RogersCasey
4 Risk Management Issues for the Family Office
Luc Estenne
Partners Advisers SA
5 What Does Risk Mean for Pension Fund Trustees?
Robbie Alexander
Octane Group
6 Examining Potential Risk Mitigation Benefits of Diversification
John Levitt
Gregoire Capital
PART II: PERSPECTIVES FROM THE HEDGE FUND MANAGERS
7 Sound Practices for Hedge Funds
Tanya Styblo Beder
Tribeca Global Management LLC
8 Managing a Global Credit Portfolio
Michael Mabbutt
Thames River Capital
9 Managing Risk in a Global Event Arbitrage Portfolio
John Paulson
Paulson & Co. Inc
10 Risk Management for Convertibles
Michael A. Boyd Jr, Scott Watson, Evan Misshula
Forest Investment Management LLC
11 Mortgage Strategies
Eric H. Keiter
MKP Capital Management, LLC
12 Risk Management for a Distressed Securities Portfolio
Marti P. Murray
Murray Capital Management, Inc
13 Short Selling: A Unique Set of Risks
A. R. Arulpragasam; James S. Chanos
Arktos LLC; Kynikos Associates
14 Risk Management for Hedge Fund Strategies - Foreign Exchange
A. Paul Chappell
C-View Limited
15 Investable Hedge Fund Indices: Creation and Management
Thomas Schneeweis; Vassilis Karavas, Rae DuBose
University of Massachusetts; Lyra Capital
PART III: PERSPECTIVES FROM FUND-OF-HEDGE-FUND MANAGERS
16 Risk: Defining It, Measuring It, and Managing It
Robert A. Jaeger
EACM Advisors LLC
17 Hedge Fund Risk and its Implications
David J. Gordon
18 Integrating Risk Management into the Portfolio Management Process for Effective Fund-of-Hedge-Funds Risk Management and Performance Measurement
Virginia Reynolds Parker
Parker Global Strategies LLC
19 The Big Five
Ken Kinsey-Quick
Thames River Capital
PART IV: OPERATIONAL, COUNTERPARTY, REGULATORY, AND LEGAL PERSPECTIVES
20 Operational Risk
Marcelo Cruz; Jonathan Davies
RiskMaths; Risk Business
21 Managing Hedge Fund Risk from the Dealer’s Perspective
Irenee D. May, Jr
JP Morgan
22 Regulatory Risk for Hedge Fund Managers
Cynthia M. Fornelli
Bank of America
23 Legal Risks of Investments in Hedge Funds
Christopher M. Wells
Coudert Brothers LLP