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Hedge Funds: Strategy Evaluation for the Swedish Market
Stockholm University, Faculty of Social Sciences, School of Business.
Stockholm University, Faculty of Social Sciences, School of Business.
Stockholm University, Faculty of Social Sciences, School of Business.
2001 (English)Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

Despite the relatively short existence of hedge funds in Sweden, the industry has drawn a lot of attention from the financial community, the press, as well as the academic world. During the recent decline in the stock market, most of the hedge funds have managed to obtain absolute risk-adjusted returns, making them an interesting investment alternative. The aim of this thesis was to map out and analyse the hedge fund strategies currently employed in the Swedish market. This was obtained by conducting personal interviews with the fund managers. The results of the interviews were then cross-fertilised with our quantitative analysis of the funds’ performance. We could identify six major strategies employed in the Swedish market. An important commonality among these strategies was a relatively low risk compared to the stock market (OMX-index). This combined with their low correlation to the stock market vows for their ability to diversify an investment portfolio. The Long/Short Equity and the Fixed Income Arbitrage are believed to remain as the most commonly employed strategies among the Swedish hedge funds in the near future. Other emerging strategies have been found to be the Equity Market Neutral and the pure Macro (based on quantitative models) strategies. An increasing demand for so-called Fund-of-Funds is expected. The bulk investments are expected to enter the market with the increasing participation of institutional investors. These capital-intensive investors are mostly investing long-term and are considered to be decisive for the future growth of the hedge fund industry.

Place, publisher, year, edition, pages
2001.
National Category
Business Administration
Identifiers
URN: urn:nbn:se:su:diva-2622OAI: oai:DiVA.org:su-2622DiVA: diva2:191682
Uppsok
samhälle/juridik
Available from: 2007-01-05 Created: 2007-01-05

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Citation style
  • apa
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  • de-DE
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  • Other locale
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Output format
  • html
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  • asciidoc
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