The paper provides an overview of the hedge fund industry, mainly from a financial stability and European angle. It is primarily based on an extensive analysis of information from the TASS database. On the positive side of the financial stability assessment, hedge funds have a role as providers...

The hedge fund industry -- The service providers -- Hedge fund structures -- Hedge fund accounting -- ERISA, UBTI, and off-shore funds -- Marketing and capital raising -- Why the back office matters -- The launch -- Perception versus reality