Lost in hedge fund land? That TomTom talking personal navigation system you covet for Christmas won't be of any use, but the London-based Alternative Investment Management Association has come to the rescue with a Roadmap to Hedge Funds.
Given the belt-tightening by many investors, the good news is that the report is free and available online here.
The education and advice offered in the 167-page user guide designed for intermediate-level hedge fund investors is practical, comprehensive and authoritative. It should be, given that its authors are two leading hedge fund investment practitioners.
Alexander Ineichen is a managing director and senior investment officer for Alternative Investment Solutions, a division of Chicago-based UBS Global Asset Management. His co-author, Kurt Silberstein, oversees investment of a large hedge fund portfolio as senior portfolio manager for absolute-return strategies and external equities in the global equity portfolio of the $179 billion California Public Employees' Retirement System, Sacramento.
I know the reader will enjoy this road map as much as I did, wrote Mark Anson, president and executive director of investment services, Nuveen Investments Inc., Chicago, in the report's introduction. This is a pragmatic, user-friendly book that will go a long way to breaking down the myths of hedge funds while providing the user the ability to construct an intelligent hedge fund portfolio, Mr. Anson said.