Regulation
| Autor: | Serge Darolles, Mathieu Vaissié |
|---|---|
| Rok vydání: | 2013 |
| Předmět: |
Fund of funds
Finance Solvency Hedge accounting 050208 finance business.industry 05 social sciences Institutional investor 02 engineering and technology Global assets under management Hedge fund 0502 economics and business Open-end fund 0202 electrical engineering electronic engineering information engineering Economics 020201 artificial intelligence & image processing Alternative beta business |
| DOI: | 10.1016/b978-0-12-401699-6.00028-9 |
| Popis: | A tidal wave of regulation is hitting financial markets worldwide as a result of the credit crisis of 2008–2009 and this time around the hedge fund world will not be immune. We argue in this chapter that, unlike conventional wisdom, regulation could be an opportunity for the funds of hedge funds (FoHFs) industry. The only necessary condition is fair treatment of hedge fund investments. We take the Solvency II framework as an example and show how the implementation of the granularity adjustment, first introduced for implementation in the Basel framework, makes it possible to take into account the diversification potential of FoHFs and in turn reconcile the outcome of the standard formula with empirical evidence. |
| Databáze: | OpenAIRE |
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