The document provides a conceptual breakdown of hedge fund returns, illustrating three layers: Traditional Beta, Replicable Alpha (Risk Premia/Alternative Beta), and Alpha. It highlights Liquid Alternatives as a source of portfolio diversification, particularly for investors with liquidity constraints, and notes that a significant portion of hedge fund returns are systematically replicable. DB CB&S is mentioned as a market leader in the Risk Premia space.
documents/vol00010-efta01364416-pdf.pdf
{"title":"Liquid Alternatives for Diversification","document_type":"media","document_subtype":"conceptual diagram","key_organizations":["DB CB&S"],"reference_numbers":["DB-SDNY-0054952","SDNY_GM_00201136","EFTA01364416"]}