A Hedge Fund Investor’s Guide to Understanding Managed Futures

A version of this article appeared in the edited Wiley Finance book, Hedge Funds: Insights in Performance Measurement, Risk Analysis, and Portfolio Allocation, Edited by Gregoriou, Hübner, Papageorgiou, and Rouah. Copyright © 2005. Reprinted with permission of John Wiley & Sons, Inc. EDHEC is one of the top five business schools in France. Its reputation is built on the high quality of its faculty and the privileged relationship with professionals that the school has cultivated since its establishment in 1906. EDHEC Business School has decided to draw on its extensive knowledge of the professional environment and has therefore focused its research on themes that satisfy the needs of professionals. EDHEC pursues an active research policy in the field of finance. EDHEC-Risk Institute carries out numerous research programmes in the areas of asset allocation and risk management in both the traditional and alternative investment universes.