Fiduciary Management – Page 13

  • Fiduciary/Delegation: Still life in the FoFs model
    Special Report

    Fiduciary/Delegation: Still life in the FoFs model

    July 2010 (Magazine)

    While relationships with funds of funds are evolving, Katharina Lichtner outlines the costs and dangers of going it alone in private equity

  • Special Report

    Fiduciary/Delegation: Hedge fund beta: a cheap core portfolio?

    July 2010 (Magazine)

    If the trend is towards core-satellite hedge fund portfolios, what does that mean for resource budgeting? It is tempting to see this as a passive-active portfolio – why would an investor not wish to maximise her budget for the active part and minimise her budget for idiosyncratic risk, illiquidity risk and, of course, costs, in the passive part? This is the argument behind ‘hedge fund beta’ – investable indices, ETFs, super-diversified funds of funds and quantitative, hedge fund replicators.