Fund of Hedge Funds : Hedge Fund Analysis and Selection

The fund of hedge fund manager in practice

Course objectives

  • Understand alternative asset management strategies
  • Avoid traps and mistakes when selecting hedge funds
  • Know how to build a portfolio of hedge funds
Course content

Why Funds of Hedge Funds (FoHFs) ?

  • Service offering
  • Drawbacks
  • FoHF or advisory ?

FoHF types

  • Generalist
  • Specialist

Results

  • Benefits for investors
  • FoHFs and diversified long-only funds

Players

  • FoHF managers
  • Investors in FoHFs

Asset class selection

  • Markovitz and MPT
  • Strategic asset allocation
  • Tactical asset allocation

Strategy selection

  • Alternative strategies
  • Alternative management styles
  • Alternative management tools
  • Quantitative selection
  • Qualitative selection

Manager selection

  • Objectives of a sound manager selection
  • Quantitative selection
  • Performance attribution
  • Qualitative selection

Case Study: fund blow-ups !

Portfolio construction

  • Portfolio construction objectives
  • Portfolio construction methodologies

Risk management

  • Which amount of risk for which return ?
  • Alternative strategies specific risks
  • Manager risks
  • Market risks : how to assess and measure them ?
  • Operational risks

Risk control

  • Risk control VS risk management
  • Organisation
  • Alerts

Future of FoHFs

  • Transparency
  • Valuing investor service

Information sources

  • Databases
  • Rankings and awards
  • Fund ratings
  • Best practices



Christophe Chouard

Christophe Chouard

Before creating Aldis Capital, as a Financial Investment Advisor, Christopher was CEO of HDF Finance (manager of funds of hedge funds)for 6 years. Previously, he was responsible for the sales force "fixed income" for France and Belgium for 2 years at Credit Agricole CIB, having spent 15 years at JP Morgan in various positions in sales and structuring customized instruments "fixed income" (cash, currency derivatives, interest rate and credit) in Paris and London. Christopher received his AMF Certification in 2011. He graduated from the Ecole Centrale Paris (1983)and has an MBA from HEC (1986).

Christophe Chouard also teaches :



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