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Article: Funds of hedge funds are under the microscope; Institutional investors focus on due diligence, portfolio construction.(A)
- Article from:
- Investment News
- Article date:
- September 28, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Christine Williamson
Institutional investors are examining every aspect of their fund-of-hedge-funds portfolios and the managers in charge of them in the wake of the performance debacle of 2008, liquidity problems and the seismic shock of Bernard L. Madoff's massive Ponzi scheme.
That's according to a group of experts at a round table on the state of funds of hedge funds, held by sister publication Pensions & Investments.
The Aug. 18 discussion focused on the quality of operational due diligence and transparency; the need for better portfolio construction and risk management, and a related move back to more concentrated portfolios of ...