{"title":"对冲基金如何运作?","authors":"HeDge funDs","doi":"10.1002/9781119646068.ch51","DOIUrl":null,"url":null,"abstract":"In the worst 10 quarters for global equity markets since 1990, hedge funds (as measured by the HFRI Fund of Funds Composite Index) outperformed a long-only investment in the MSCI World Index in all cases. This illustrates two of the primary reasons why sophisticated investors choose to allocate a portion of their well-diversified portfolio to hedge funds: the ability to preserve value in down markets, and low correlation to traditional stocks and bonds.","PeriodicalId":178276,"journal":{"name":"Analytics Stories","volume":"5 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2020-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"How Do Hedge Funds Work?\",\"authors\":\"HeDge funDs\",\"doi\":\"10.1002/9781119646068.ch51\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"In the worst 10 quarters for global equity markets since 1990, hedge funds (as measured by the HFRI Fund of Funds Composite Index) outperformed a long-only investment in the MSCI World Index in all cases. This illustrates two of the primary reasons why sophisticated investors choose to allocate a portion of their well-diversified portfolio to hedge funds: the ability to preserve value in down markets, and low correlation to traditional stocks and bonds.\",\"PeriodicalId\":178276,\"journal\":{\"name\":\"Analytics Stories\",\"volume\":\"5 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2020-08-31\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Analytics Stories\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1002/9781119646068.ch51\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Analytics Stories","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1002/9781119646068.ch51","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
In the worst 10 quarters for global equity markets since 1990, hedge funds (as measured by the HFRI Fund of Funds Composite Index) outperformed a long-only investment in the MSCI World Index in all cases. This illustrates two of the primary reasons why sophisticated investors choose to allocate a portion of their well-diversified portfolio to hedge funds: the ability to preserve value in down markets, and low correlation to traditional stocks and bonds.
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