Background: In 2008, as investors fled in panic, and we ourselves had to raise cash on behalf of investors, we thought to ourselves: how would we manage our own money? Partner’s money. Assuming that everyone was thinking straight. The result of this experiment has been a model portfolio of hedge funds which we have tracked

Hedge Fund Performance Aug 2010 Hedge Funds as a group have done poorly in 2010, yet they continue to outperform equities by a significant margin both in absolute terms as well as on a volatility adjusted basis. Even so, why would an investor pay hedge fund management and performance fees for a paltry 1.65% YTD,

UCITS Directive 1985: To harmonize the sale and marketing of ICS to retail investors. To create a single market and to impose a common set of investment parameters, restrictions and supervision. Ultimately failed its objectives. Failed to envisage the growth of complexity of CIS potentially structured within UCITS   UCITS II: Planned amendments and augmentations

 The performance of funds of hedge funds has apparently underperformed that of direct investments in hedge funds even after correcting for fees. Why is this?