Hedge Fund Strategies (brief)

HEDGE FUND STRATEGIES

Barclay T. Leib CFE, CAIA, Kathryn M. Kaminski PhD, CAIA and Mila Getmansky Sherman PhD

Barclay T. Leib, CFE, CAIA, is at Sand Spring Advisors LLC (USA). Kathryn M. Kaminski, PhD, CAIA, is at Alpha Simplex Group, LLC (USA). Mila Getmansky Sherman, PhD, is at Isenberg School of Management, UMASS Amherst (USA).

LEARNING OUTCOMES

The candidate should be able to:

• discuss how hedge fund strategies may be classified

• discuss investment characteristics, strategy implementation, and role in a portfolio of equity-related hedge fund strategies

• discuss investment characteristics, strategy implementation, and role in a portfolio of event-driven hedge fund strategies

• discuss investment characteristics, strategy implementation, and role in a portfolio of relative value hedge fund strategies

• discuss investment characteristics, strategy implementation, and role in a portfolio of opportunistic hedge fund strategies

• discuss investment characteristics, strategy implementation, and role in a portfolio of specialist hedge fund strategies

• discuss investment characteristics, strategy implementation, and role in a portfolio of multi-manager hedge fund strategies

• describe how factor models may be used to understand hedge fund risk exposures

• evaluate the impact of an allocation to a hedge fund strategy in a traditional investment portfolio