Risk Measurement of Investments in the Satellite Ring of a Core-Satellite Portfolio: Traditional versus Alternative Approaches
This paper provides a risk framework for fiduciaries considering using a core-satellite approach to investing.
Co-founder of Premia Capital Management, LLCResearch Associate with the EDHEC Risk and Asset Management Research Centre
While the article mainly covers the additional risk measurement techniques, which are needed when investing in hedge funds, its recommendations are also relevant for other investments that have default, devaluation, and/or liquidity risks associated with them. While the article's focus is on quantitative techniques, we note that a fiduciary must also understand the economic basis for each investment's returns.
Risk Measurement of Investments in the Satellite Ring of a Core-Satellite Portfo...
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