In this paper we examine two closely related questions regarding hedge fund liquidity: (i) Is there a cost associated with enhanced liquidity provisions? (ii) If so, what is the main driver of this cost? To answer these questions, we conducted a series of statistical analyses upon a broad sample...

Hedge Fund (HF) managers are expected to create excess investment returns (Alpha) through two primary skills based sources: (i) Security selection: buying undervalued securities and selling overvalued securities. (ii) Market timing: entering markets in advance of, or when they are rising and...

Investing passively in traditional fixed income exposes investors to low expected returns, has little scope for capital appreciation, comes with significant interest rate risk, forsakes opportunities in unlocking an illiquidity premium, as well as excludes niches in credit investing. Durable...

When it comes to allocating to traditional asset classes mean-variance optimization approach is usually satisfactory. However, naively extending this approach does not work when constructing strategic portfolios using alternative asset classes