Institutional Investor's Alpha Magazine - May 2008 - (Page 48)

What factors contribute to a hedge fund’s performance? What is the investment manager’s decision making process? What are the capacity constraints of the fund? What is the background of the portfolio management team? What is the turnover rate in the management team? What risks are involved? Are the risks appropriate? What is the opportunity set of a hedge fund strategy? Is the hedge fund manager worth the 2% and 20% fee? What is the contact information of a fund’s affiliated firms? How do I locate talented, trustworthy, business-savvy managers? What is the correlation of the fund’s performance to other asset classes? How does the fund’s risk/return profile compare to its peer group or to a benchmark? Research the Answers Newly developed, Morningstar Direct Alternative Investment Edition (Direct AIE) is a Web-based, global hedge fund research solution that can help you to answer key questions during due diligence processes and competitive analysis. For performance evaluation and comparison, Direct AIE provides the flexibility to change benchmarks, time periods, risk-free rates and currencies. Compare performance across user-entered funds, custom built portfolios, global indexes, Morningstar category averages and funds within our database. Pull charts and reports into Microsoft PowerPoint and PDF for presentations. Extensive Hedge Fund Data Access 300 qualitative and quantitative data points, 8,000 active hedge funds, funds of hedge funds and CTAs, 17 Morningstar categories and over 29,000 indexes. Beyond timely performance and assets under management, information such as strategy classification breakdown, geographic exposure, industry exposure, fees and liquidity terms, and asset class exposure can help you gain insight on the contributing factors to an investment’s performance. Manager biographies and affiliated firm contact details can aid in your assessment of a manager’s character and competency. Get More Information To learn more about Morningstar Direct Alternative Investment Edition, please visit: global.morningstar.com/aie3 ©2008 Morningstar, Inc. All rights reserved. The Morningstar name and logo are registered marks of Morningstar. Marks used in conjunction with Morningstar products or services are the property of Morningstar or its subsidiaries. http://global.morningstar.com/aie3 http://global.morningstar.com/aie3

Table of Contents Feed for the Digital Edition of Institutional Investor's Alpha Magazine - May 2008

Institutional Investor's Alpha Magazine - May 2008 Contents Letter from the Editor Longs & Shorts Pension Corner: Send in the Clones The Good Guys: Outside the Box Cover Story: Welcome to Oz Interview: The Tipping Point Regulation: When Sentinels Go Astray Strategies: Taking Credit Research Center: The Hedge Fund 100 Book Excerpt: Shoot the Messenger Alpha Bytes: VaR Enough? Unhedged: Commentary: Not Your Father's Activist

Institutional Investor's Alpha Magazine - May 2008

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