A New Measure for Measuring

Researchers at Columbia University have developed a new way to compare investing in funds of hedge funds versus going direct.

So you want to invest in hedge funds. If you are the chief investment officer of a pension fund or the manager of an endowment or foundation, then you have probably struggled with the following question: Should you invest directly in hedge funds or use a fund of hedge funds? What makes the situation especially frustrating is that it is hard to even understand the steps necessary to make the right decision.

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