Alternative Investment

Alternative Assets - Part 4 (2018)


This eCourse consists of two Modules. Module 1 describes the benefits and shortfalls of various measurements of risk and return and highlight the way in which an investor can examine alternative opportunities. We look at how it is possible to separate measurements of return which are “skill-based” from those due to overall market movements and how a potential investor can distinguish between “good” and “bad” hedge fund investments.

Module 2 covers hedge fund investing styles. It examines the key differences between such styles in terms of market exposure, required leverage, correlation to major markets, and gives a description of the key categories. It also briefly examines the topic of hedge fund factor analysis and replication.


On completion of this course, you will be able to:
- Compare the performance of hedge funds to other asset classes
- Identify the key measures of hedge fund risk
- Recognise the issues involved in evaluating hedge funds
- Recognise how hedge fund returns are related to market movements
- Classify the major hedge fund investment styles and their different characteristics, market exposure, and leverage requirements

Content Highlight

Module 1: Hedge Funds - Investing
Topic 1: Hedge Fund Performance
Topic 2: Hedge Fund Risk
Topic 3: Evaluating Hedge Funds

Module 2: Hedge Funds - Strategies
Topic 1: Hedge Fund Strategies & Performance
Topic 2: Relative Value Trading
Topic 3: Event Driven Strategies
Topic 4: Directional Strategies
Topic 5: Other Hedge Fund Strategies

Administrative Details

Relevant Subject
Type 9 - Asset management
SFC:2.00, PWMA:2.00
All Member: HKD610
Non-Member: HKD890
Staff of Corporate Member: HKD610