Guide to Hedge Funds

Guide to Hedge Funds

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In 1990 hedge funds managed assets worth around $39 billion. By mid-2007 that figure had grown to a staggering $1.7 trillion. Equally staggering is the amount of money successful hedge fund managers earna€”in 2006 the top 25 earned more than $14 billion among them. The returns hedge funds make can be substantial, as they should be, given the high fees they charge. But the losses can be substantial tooa€”as some discovered during the credit crunch market upheaval that started in summer 2007. Most people have heard of hedge funds but few are clear about what they are or what they do. This guide, written by a leading financial journalist, deftly explains all you need to know about hedge funds in order to understand the nature of their business. Following an introduction, six chapters cover: Hedge fund taxonomy, The players, Fund-of-funds, Hedge fund regulation, Hedge funds: for or against, and The future of hedge funds. At the end of the book there is a glossary of terms used in association with hedge funds, together with a number of tables and charts showing hedge fund data over the years.The name refers to the long-short proportions of the fund: the manager can invest 130% of the fund in long positions, and offset this with 30% ... Merrill Lynch reckons that, as of early 2007, pension funds had been responsible for much of the $50 billion invested in 130-30 funds. ... If the manager were to use more leverage (175-75 would imply gross positions of 250%), investors might be more nervous.

Title:Guide to Hedge Funds
Author: Philip Coggan
Publisher:John Wiley & Sons - 2008-04-08

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