Handbook of Alternative Assets [Hardcover]

Since the first edition of the Handbook of Alternative Assets was published, significant events-from the popping of the technology bubble and massive accounting scandals to recessions and bear markets-have shifted the financial landscape. These changes have provided author Mark J. P. Anson with an excellent opportunity to examine alternative assets during a different part of the economic cycle than previously observed in the first edition.

Fully revised and updated to reflect today's financial realities, the Handbook of Alternative Assets, Second Edition covers the five major classes of alternative assets-hedge funds, commodity and managed futures, private equity, credit derivatives, and corporate governance-and outlines the strategies you can use to efficiently incorporate these assets into any portfolio. Throughout the book, new chapters have been added, different data sources accessed, and new conclusions reached.

Designed as both an introduction to the world of alternative assets and as a reference for the active investor, the Handbook of Alternative Assets, Second Edition will help you match alternative assets with your various investment goals.

Preface ix

About the Author xi

PART ONE Overview of Alternative Assets 1

CHAPTER 1 What Is an Alternative Asset Class? 3

CHAPTER 2 Why Alternative Assets Are Important: Beta Drivers and Alpha Drivers 15

PART TWO Hedge Funds 29

CHAPTER 3 Introduction to Hedge Funds 31

CHAPTER 4 Establishing a Hedge Fund Investment Program 71

CHAPTER 5 Due Diligence for Hedge Fund Managers 97

CHAPTER 6 Risk Management Part I: Hedge Fund Return Distributions 135

CHAPTER 7 Risk Management Part II: Additional Hedge Fund Risks 169

CHAPTER 8 RelCï