About this Lecture

This lecture instructs IMAC candidates on the use of returns-based multi-factor analysis to better understand the underlying drivers of a managed fund’s return and risk over its life, including:

• what factors are;
• why multi-factor analysis of funds is important;
• the four stages of investment performance analysis;
• types of hedge fund strategies, their performance, and comparison with public stocks;
• the more widely used multi-factor models;
• a risk framework of assessing actively managed strategies;
• the advantages and disadvantages of holdings-based and returns-base...