La Gestion Alternative

This is the first publication written in French to examine the present state of both the academic and professional knowledge of a subject which is still little known to investors and researchers in finance: hedge funds.

This book enables the reader to not only understand how the different hedge fund strategies generate performance but also to anticipate the associated risks.

As alternative investment is often considered to be an opportunity for diversification, the authors felt that it was important to synthesise the results of the most recent research work into optimising the incorporation of hedge funds in the global allocation of a portfolio.

Finally, a crucial and detailed study of the performance and risk measurement tools applicable to funds producing non-gaussian return distributions is proposed.

Being an exhaustive and educational book, it is addressed at undergraduate and postgraduate degree students and students from the "grandes écoles" wishing to familiarise themselves with a new investment universe and a new field of knowledge in finance.

As it constitutes a synthesis of the main research work undertaken in this field, the book is also a precious source of expertise and a reference document for asset management researchers and professionals alike.