Kat Launches New Broadside on Hedge Fund Replicators
Apr 30th, 2007 | Filed under: Alternative Beta & Hedge Fund ReplicationProfessor Harry Kat of the Cass Business School at City University, London, has been a thorn in the side of the hedge fund industry for several years now. And today (April 30), he released his latest attack on the sector, reserving his sharpest barbs for the hedge fund replicators themselves. In fact, he concludes his analysis by replicating both Goldman Sach’s and Partners Groups own hedge fund replication offerings.
The latest paper is an extended version of Kat’s earlier work “Alternative Route to Hedge Fund Replication”. He adds over 20 pages of succinct and pointed commentary on everything from the research of Andrew Lo, Thomas Schneeweis, Lars Jaeger, Bill Fung and David Hsieh to the hedge fund replication offerings of Merrill Lynch, Goldman Sachs, JP Morgan and Partners Group. If you are new to the whole “hedge fund replication” shtick, this is a must-read. And if you have been following this story for some time, you will find Kat’s viewpoint typically concise - even if you don’t agree with it.
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