Resources

White Papers, Industry Publications and Academic Studies

Ezra Zask Financial Advisors regularly reviews and compiles white papers, industry publications and academic studies as part of our research process.
Citi http://icg.citi.com/transactionservices/home/demo/tutorials8/Hedge_Fund_May2013/files/assets/basic-html/toc.html This 88 page report and survey entitled "The Rise of Liquid Alternatives & the Changing Dynamics of Alternative Product Manufacturing and Distribution" provides an excellent primer for understanding the liquid alternatives industry. The report discusses the evolution of the product structure, investor base and regulatory regime of the hedge fund industry. The report includes a number of useful surveys on investor, advisor and manager viewpoints in response to the growth in liquid alternatives.
Deloitte http://www.deloitte.com/assets/Dcom-UnitedStates/Local%20Assets/Documents/FSI/us_fsi_2014AlternativeInvestmentOutlook_013014.pdf Deloitte's 16 page "2014 Alternative Investment Outlook"  is geared towards investment management professionals and reviews trends in asset management industry over the past year. The study highlights strategies to generate AUM growth, utilizing data analytics to help gain a competitive edge and increase brand and reputational strength.
AllianceBernstein https://www.alliancebernstein.com/Research-Publications/White-Papers/Liquid-Alternative-Mutual-Funds/Stories/Liquid-Alternative-Mutual-Funds.htm "Liquid Alternatives -The Next Dimension in Asset Allocation" by AllianceBernstein provides a summary of the growth of liquid alternative investment vehicles since the crisis and the potential benefits that they can bring to investor portfolios.
Financial Conduct Authority http://www.fca.org.uk/static/documents/hedge-fund-survey.pdf This 36 page survey by he U.K.'s Financial Conduct Authority provides a summary of the global hedge fund industry, including global AUM figures, trends in the use and structure of leverage and an overview of liquidity risk.
Natixis http://ngam.natixis.com/docs/352/754/562014_FINAL_Individual%20Investor%20Survey%20Full%20Report%20_4292014,0.pdf Natixis' "2014 Global Survey of Individual Investors" explores trends in investor sentiment, confidence and attitude towards risk. The survey includes a number of statistics directly related to alternative investments.
Yale and Maastricht University http://depot.som.yale.edu/icf/papers/fileuploads/2699/original/2011_ICF_WPS_Can_Large_Pension_Funds_Beat_the_Markety_Cremers.pdf This study by professors at Yale and Maastricht University assesses the ability of large pension funds to outperform the market, considering the impact of liquidity-related limitations in asset allocation, market timing and security selection.
First Trust Advisors The Case for Commodities "The Case for Commodities", a 15 page presentation, argues that an allocation to commodities can help diversify investor portfolios while also acting as a potent inflation hedge.