Liquid and Near-Liquid Alternatives White Paper Excerpt

LAI_Cover_Large_TextThe Liquid Alternative Investments Company is providing a free excerpt of the 170 Page Liquid and Near-Liquid Alternatives White Paper. The 50+ page excerpt provides industry professionals with a preview of the comprehensive set of topics addressed by the White Paper including the definition of liquid alternative investments, the performance differences between hedge fund and liquid alternative investment funds, the importance of fund and manager selection and the impact of liquid alternatives on the asset management industry. The excerpt includes a full table of contents and list of exhibits to show readers the breadth of the White Paper. Click to Download the Liquid and Near-Liquid Alternative Investments White Paper - EXCERPT VERSION The full 170 page report is available to premium subscribers. In addition to the full White Paper, premium subscribers can access:
  • Comprehensive database of 1400 liquid alternative investments – including mutual funds, ETFs and CEFs
  • Fund Screener and Portfolio Builder analytical software allows users to rank, compare and select funds and build simulated portfolios.
  • 60+ performance indices
  • Analysis and commentary on individual funds, strategies, the industry, due diligence and portfolio management.
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About the Author

Ezra Zask, President LAIC: Zask_Photo
  • Industry Experience
    • Founded and managed hedge fund, fund of hedge funds and 40-Act Alternative Mutual Fund
  • Teaching Experience
    • Taught investments and hedge funds at Yale, Princeton, Carnegie Mellon, Fordham
  • Relevant Publications
    • All About Hedge Funds
 

Outline of the Report

The report is divided into three major sections which together address the major aspects of the liquid alternative investment phenomena from the viewpoint of investors, investment managers and asset management companies. Part I: Liquid Alternatives: What are they and how do they operate? This section documents the growth of the LAI. It will look at the history, growth and strategies pursued by LAIs and discusses how they fit in with other parts of the investment management industry and with alternative investments in general. It examines the mechanics of how mutual funds and ETFs function, how they differ from each other and from other alternative investments, and the benefits and risks associated with each structure. Part II: Liquid Alternatives in Investment Portfolios The second section examines the role of LAI and alternative investments in general in investors’ portfolio. Criticism of the performance of LAIs and hedge funds, and the associated fees extracted by both, is examined and evaluated with reference to both industry and academic analyses. We also examine the crucial role played by manager selection and portfolio construction in the context of LAIs and alternatives in general. Part III: LAI and the Future of the Asset Management Industry The third section draws out the present and future changes wrought by LAI on the investment management industry for asset management companies (mutual funds, hedge funds, fund of hedge funds, private equity firms, ETF providers) and intermediaries (registered investment advisors, investment consultants, mutual fund distributors and hedge fund marketers). We look at how these actors are positioning their product and distribution systems to take advantage of the changes in the industry and point to the changes that will drive the industry going forward.