Unlocking Hedge Fund Investments Boosts Portfolio Performance.
The book discusses different investment strategies and portfolio management. One essay looks at how investing in hedge funds with lockup periods affects portfolios. Another essay shows that fund managers choose single-strategy hedge funds for their portfolios in a non-random way. The last essay finds that market momentum is important for predicting optimal asset allocations and adds value to active portfolio management. However, investors may not benefit from delegated portfolio management, even though it generates a high information ratio.