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Hedge Fund Operational Due Diligence: Understanding the Risks (Wiley Finance). Jason A. Scharfman

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Hedge Fund Operational Due Diligence: Understanding the Risks (Wiley Finance) Jason A. Scharfman. pdf ebook Publisher: Wiley Language: English Page: 317 ISBN: 0470372346, 9780470372340

Review

"Informative book by Jason Scharfman, on, well, pretty much everything you need to run a hedge fund…Scharfman also explains the reliance on technology that is becoming ever more apparent in hedge funds, the dangers of phantomware, and questions that should be asked before committing to any new technology." (hedgeco.net, January 26th, 2009)

"In his book, Jason Scharfman identifies these operational risks and recommends a strong and innovative "operational" due diligence review program as the best defense against them. His book outlines a step-by-step guide that shows investors how to effectively detect and evaluate often-overlooked operational risk factors in hedge funds and other investments in order to provide hedge funds and their investors with the skills to understand and hopefully mitigate these risks." (The Hedge Fund Law Report, January 8, 2009)

From the Inside Flap

Hedge Fund Operational Due Diligence

Understanding the Risks

One need only glance at the cover of the Wall Street Journal or turn on CNBC to learn about the latest debacle befalling hedge funds, due to poor operational oversight and controls. Long viewed by many hedge fund investment professionals as one of life's necessary evils and a distraction from the "real" business of investing, the field of operational due diligence has finally caught on today as an essential area of hedge fund risk management.

Filled with real-world examples drawn from the author's experiences dealing with the operational risks of a global hedge fund platform, Hedge Fund Operational Due Diligence: Understanding the Risks clearly outlines a flexible framework to enable you to diagnose a hedge fund's operational risks. This user-friendly, step-by-step guide shows you how to effectively detect and evaluate often-overlooked operational risk factors in hedge funds, such as multijurisdictional regulatory coordination, silo creation, operational drag, organizational nesting, and vaporware, to equip you with a complete understanding of the importance and benefits of a comprehensive operational due diligence program.

Designed to enable hedge fund personnel to perform self-diagnostic health checks and determine areas in which operational improvements are needed using the techniques described, this timely book:

Features an analysis of the failed Bayou Hedge Fund Group, highlighting how operational risks can bring down an organization

Explains how to diagnose and analyze the operational risks that may be present in a hedge fund

Covers the primary, secondary, and blended operational risk factors present in the vast majority of modern hedge fund organizations

Offers techniques for the modeling of operational risk

Explores how to factor the results of operational risk analysis into the overall hedge fund asset allocation process

A strong operational infrastructure serves as a crucial backbone to the modern hedge fund, without which even the smartest money managers in the world could not thrive. Hedge Fund Operational Due Diligence: Understanding the Risks provides you with the necessary tools to effectively consider operational reviews in conjunction with investment reviews.