Hilary Till: Illiquidity is a common feature of alternative investments, whether one chooses venture capital, private equity, or hedge funds.
Research Associate, EDHEC-Risk Institute
For hedge funds, the illiquidity can arise from the contracts an investor enters into, which may have one year or longer lock-ups or can arise from the type of investments that a hedge fund specialises in. A hedge fund’s investments may include over-thecounter derivatives instruments, which may be difficult to value, or small-capitalisation stocks, which may trade infrequently, for example.
|Type :||Working paper|
|Date :||le 10/01/2004|
|Pôle de recherche||Finance|