Introduction to Hedge Funds

• A Definition of Hedge Funds
• Hedge Funds Vs. Traditional Funds
• Brief History of the Hedge Funds Industry
• Hedge Funds in India

Players in the Market

• Structure and Size
• Key Players
• Role of Hedge Funds
• Hedge Fund Performance Benchmark Targets

Hedge Fund Investment Strategies

• Relative Value
• Event Driven
• Opportunistic
• Directional Funds
• Absolute-return funds

Fund of Hedge Funds (FOHF)

• Structured Products
• Multi-Strategy Vs Funds-of-Funds

Hedge Fund Fee Structures

• Performance-based Fees
• Determining Incentive Fees: High Water Marks and Hurdle Rates
• Equalization
• Minimum Investment Levels
• Fees for Funds of Funds

Regulations of Hedge Funds

• The Legal Structures of Hedge Funds
• Legal Structures for Non-US Hedge Funds
• Hedge fund regulation in Various Countries
• Supervision Approach
• Structure of Hedge Funds
• Primary Brokers
• Risk Management

Risk Management

• Sources of Risk
• Measuring Hedge Fund Risk
• Markowitz 's Portfolio Theory
• CAPM (Capital Asset Pricing Model)
• Sharpe Ratio
• Jenson's Alpha and Treynor ratio
• Three Factor Model of Fama and French
• VaR (Value at Risk)

Problems with Hedge Fund Risk Modelling

• Non-Normal Return Distribution
• Investment Strategy and Return Distribution
• Hedge Fund Failure Rate

Hedge Funds Available On The Market

• Close Man Hedge Fund
• RAB Capital
• GLG Partners
• Ikos Hedge Fund
• Black Rock
• Famous Hedge Funds Withdrawn From the Market

Future of Hedge Funds

• Consolidation
• 30/30 Funds
• Fees and Cloning
• Growth opportunities
• The Case for Preserving Hedge Funds
• The Case Against Hedge Funds
• Conclusion

Glossary

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