Heidorn, Thomas; Kaiser, Dieter G.; Roder, Christoph - Frankfurt School of Finance & Management - 2009
Funds of Hedge Funds (FHF) are perceived to be the premier choice of institutional investorsfor first-time allocations into the alternative investment asset class. While many papers coverthe bright side of FHF investing, we in this paper empirically investigate the maximum drawdownsof FHF....