Hedge Fund Governance
Hedge Fund Governance

Author: Jason Scharfman

Publisher: Academic Press

Published: 2014-10-22

Total Pages: 387

ISBN-13: 0128025123

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Hedge Fund Governance: Evaluating Oversight, Independence and Conflicts summarizes the fundamental elements of hedge fund governance and principal perspectives on governance arguments. An authoritative reference on governance, it describes the tools needed for developing a flexible, comprehensive hedge fund governance analysis framework. Case studies and interviews with professional fund directors shine a bright light of pragmatism on this framework. The author’s global analysis of more than 5,000 hedge fund governance structures enables him to draw realistic conclusions about best practices. He also explores the value consequences of good vs. bad governance, estimating the actual dollar losses that can result from bad governance, as well as the operational and investment performance benefits of certain governance practices. Presents methods for evaluating qualifications, conflicts of interests, fees, obligations and liabilities of hedge fund Boards of Directors Explains techniques for developing a hedge fund governance assessment program, including analyzing legal documentation analysis and financial statements for governance related information Uses case studies and example scenarios in hedge fund governance successes and failures to explore investor governance rights and fund manager responsibilities in onshore and offshore jurisdictions

Hedge Fund Activism
Hedge Fund Activism

Author: Alon Brav

Publisher: Now Publishers Inc

Published: 2010

Total Pages: 76

ISBN-13: 1601983387

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Hedge Fund Activism begins with a brief outline of the research literature and describes datasets on hedge fund activism.

Hedge Fund Governance
Hedge Fund Governance

Author: Houman B. Shadab

Publisher:

Published: 2014

Total Pages: 62

ISBN-13:

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This Article provides the first comprehensive scholarly analysis of the internal governance of hedge funds. Hedge fund governance consists of the funds' underlying legal regime and the practices they adopt in response to lacking permanent capital and to reduce agency costs. Hedge fund governance is important because better governance can improve investor returns and help managers raise and retain capital. I argue that hedge fund governance is best understood as a type of responsive managerialism. It is a type of managerialism because applicable law and contracting structures give managers uniquely wide-ranging control over the fund and its operations. Hedge fund governance is also uniquely responsive, however, because managers must continually satisfy investors, due to their ability to shut down a fund by withdrawing their capital.In addition to their underlying legal regime, the primary components of hedge fund governance are investors with a strong propensity to exercise their short-term redemption rights, managers with high pay-performance sensitivity, investor demand for quality governance, and close monitoring by short-term creditors and derivatives counterparties. On balance, hedge fund governance devices seem to prevent managers from pursuing their own interests at the expense of investors. Nonetheless, there is still plenty of room for hedge fund governance to improve. Accordingly, this Article provides a normative framework and principles for improving hedge fund governance by striking a better balance between governance devices that are investor-friendly and those that empower managers. My analysis suggests that the areas in which hedge fund governance needs the most improvement are performance reporting (valuation) and the timing of performance-fee calculations. Importantly, my analysis also suggests that investors may benefit from less disclosure, higher fees, and less access to their capital.

Hedge Funds and Financial Markets
Hedge Funds and Financial Markets

Author: Julian Holler

Publisher: Springer Science & Business Media

Published: 2012-01-02

Total Pages: 434

ISBN-13: 3834936162

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Hedge funds have started to play an important role in financial markets during the last decade. They have affected important aspects of financial intermediation such as asset allocation decisions and corporate governance. Julian Holler provides an excellent theoretical and empirical analysis of these issues. His analysis offers strong support that hedge funds enable investors to improve asset allocation decisions. Consequently, hedge funds are an interesting alternative asset class for institutional investors. In contrast to results for the U.S. capital market his research provides evidence that hedge fund activism does not persistently increase the value of firms in Germany. This result suggests that the institutional environment has a strong influence on the effectiveness of corporate governance mechanisms.

The Fundamentals of Hedge Fund Management
The Fundamentals of Hedge Fund Management

Author: Daniel A. Strachman

Publisher: John Wiley & Sons

Published: 2006-12-20

Total Pages: 194

ISBN-13: 0470089911

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The tools and techniques needed to successfully launch and maintain a hedge fund In The Fundamentals of Hedge Fund Management, both budding and established hedge fund managers will learn the fundamentals of building and maintaining a successful hedge fund business. Strachman presents the facts in an accessible and easy-to-use format that will empower readers to create a lasting fund that provides significant income for years to come. The Fundamentals of Hedge Fund Management provides information on everything from picking a lawyer to creating a fund's documents to determining what markets attract investors. Readers will glean valuable information from real-life experiences (both negative and positive) that have shaped and continue to guide many of today's leading and most respected funds.

Hedge Fund Activism in Japan
Hedge Fund Activism in Japan

Author: John Buchanan

Publisher: Cambridge University Press

Published: 2012-05-24

Total Pages: 389

ISBN-13: 1107016835

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Charts the rise and fall of confrontational hedge fund activism in Japan.

The Fundamentals of Hedge Fund Management
The Fundamentals of Hedge Fund Management

Author: Daniel A. Strachman

Publisher: John Wiley & Sons

Published: 2012-05-23

Total Pages: 246

ISBN-13: 1118239237

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Updated edition of the book that gives investors, advisors, and managers the tools they need to launch and maintain a hedge fund in today's economy The hedge fund industry has gone through dramatic changes in recent years. Investors of all types continue to want to place their assets into these investment vehicles even in the wake of the credit crisis, massive frauds, and insider trading scandals. Once the forbidden fruit of Wall Street, hedge funds are now considered "must have" investments in any diversified portfolio. Now in its second edition, The Fundamentals of Hedge Fund Management is revised and updated to address how the credit crisis, legislation, fraud, technology, investor demand, global markets, and the economic landscape have affected the industry. Providing readers with a detailed and in-depth analysis of the world of hedge funds, the people working in it, and a look at where it's headed, the book is a timely and indispensable reference and research tool for helping professional money managers, traders, and others to launch and grow successful hedge fund businesses. Addresses how the credit crisis and its fallout has affected the hedge fund industry and what this means for the future Provides the essential information needed to launch and maintain a successful hedge fund in the new global economy Walks the reader through running a hedge fund, helping you to gain success over years, not just months An essential resource for anyone looking to invest in these much-discussed investment products, The Fundamentals of Hedge Fund Management, Second Edition is now fully revised and updated.

Hedge Fund Compliance
Hedge Fund Compliance

Author: Jason A. Scharfman

Publisher: John Wiley & Sons

Published: 2016-11-11

Total Pages: 208

ISBN-13: 1119240271

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The long-awaited guide for modern hedge fund compliance program development Hedge Fund Compliance + Website provides straightforward, practical guidance toward developing a hedge fund compliance program, drawn from the author's experience training financial regulators, consulting with government entities, and analyzing hedge fund compliance structures across the globe. In-depth explanations of compliance principles are backed by illustrative case studies and examples. Highly in-demand templates of popular hedge fund compliance documentation provide actionable illustrations of key compliance policies. Designed to assist investors, fund managers, service providers, and compliance job seekers directly, this book describes the fundamental building blocks of the hedge fund compliance function. Compliance is one of the fastest growing areas in the hedge fund space. This reference book provides an essential foundation in modern hedge fund compliance, reflecting the recent changes of this dynamic field. Design and run a hedge fund compliance program Access templates of core compliance documentation and checklists Discover how investors can evaluate and monitor compliance programs Interviews with hedge fund compliance practitioners A steady stream of regulatory changes, combined with the enhanced enforcement efforts of regulators, ensure that hedge funds' compliance-related expenditures will continue to grow. While hedge fund compliance legislation continues to evolve globally, little practical guidance exists for those tasked with the boots-on-the-ground aspects of developing an actual compliance program to comply with best practices and regulatory guidance from leading hedge fund regulators including the US Securities and Exchange Commission, the National Futures Association, the Commodity Futures Trading Commission and the United Kingdom's Financial Conduct Authority. Hedge fund professionals and investors need a fundamental framework for establishing and evaluating an effective program, and when compliance is the issue, trial and error carries too much risk. Hedge Fund Compliance + Website provides clear guidance and practical tools to meet today's compliance professional needs.

Practical Operational Due Diligence on Hedge Funds
Practical Operational Due Diligence on Hedge Funds

Author: Rajiv Jaitly

Publisher: John Wiley & Sons

Published: 2016-03-21

Total Pages: 885

ISBN-13: 1119018757

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Tighten due diligence procedures for more successful hedge fund investment Practical Operational Due Diligence on Hedge Funds is an encyclopaedic, comprehensive reference, written from the perspective of an experienced practitioner. Accompanied by a useful archive of factual material on different hedge fund issues, including failures, fines, and closures, this book focuses on the areas due diligence professionals should address, and explains why they're important. Extensive discussion of publicised cases identifies the manager entities and actual fund vehicles involved, and provides commentary on what could have been done differently in each case, backed by actual regulatory materials, such as SEC complaints, that recreate the events that took place. Readers gain a deeper understanding of the many facets of due diligence and the many possible pitfalls, learning how standardise processes and avoid major errors and oversights. The amount of money managed by hedge funds has almost doubled from the $1 trillion under management at the time of the financial crisis. Hedge funds can be extremely risky, but can be extremely profitable — as money increasingly flows back in, due diligence on these alternative investments becomes more and more critical. This book provides complete guidance toward the due diligence process, with plentiful real-world examples. Identify the areas of due diligence and what can go wrong Create procedures and checklists to minimise errors Learn what publicised cases could have done differently Gain a deeper understanding of massive failures and successes Proper due diligence can be a massive undertaking, but thoroughness is essential when the price of failure is so high. Practical Operational Due Diligence on Hedge Funds provides the details professionals need to be on point every time.

How to Create and Manage a Hedge Fund
How to Create and Manage a Hedge Fund

Author: Stuart A. McCrary

Publisher: John Wiley & Sons

Published: 2002-10-02

Total Pages: 386

ISBN-13: 0471353108

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Includes trading examples that illustrate points about risk management and leverage. Presents all the practical knowledge necessary to run a leveraged investment company. Non-technical explanations brings an element of transparency to a part of the investment world often thought of as difficult to understand.