Private equity funds and hedge funds are both alternative asset classes that are continuously growing in importance. Although they have different focuses, they share some characteristics. First of all, both have or allegedly have a significant impact on the economy as well as the financial...

We address the question of whether hedge fund and private equity investments in public firms are motivated by corporate governance improvements. As opposed to traditional financial investors both HF and PE are likely to have the incentives to alleviate agency conflicts. However, against the...

In this study the analytical framework for identifying and benchmarking systemically important financial institutions is discussed. First, the main concepts underlying the SIFI definition are laid out. Next, the methodologies used for measuring systemic importance in academia and for policy...

This paper empirically investigates the risk and performance of three types of alternative beta products over the January 2002 to September 2009 time period: funds of hedge funds (FHFs), investable hedge fund indices (IHFIs), and hedge fund replication strategies (HFRS). We show that IHFIs are...

Report of the Expert Group

Recognising the growing activity in the non deliverable forward (NDF) market in the recent years, the paper attempts to present a detailed analysis of the NDF market with special focus on Indian rupee. An attempt is made to study the interlinkages among the spot, forward and NDF markets for...

Hedge Funds are often considered as a possibility for optimizing traditional portfolios due to their alternative risk factors and sources of return. But as the return distribution of hedge funds shows negative skewness and excess kurtosis, using portfolio optimization techniques, based on the...

Die deutsche Wirtschaft befindet sich derzeit mitten in einem konjunkturellen Aufschwung, der aber - wie das MEMORANDUM 2007 zeigt - keinesfalls als Beginn einer längeren Wachstumsphase interpretiert werden darf. Die jüngste Belebung ist ein ganz normales konjunkturelles Phänomen und wenn der...