
Challenges of a New Supervisory Architecture in Europe
Jaksa Kristo, University of Zagreb, Faculty of Economics and Business, Croatia
The Performance of the SFA Score vs Traditional Risk-adjusted Performance Measures
Peter Urbani, Infiniti Capital, Hong Kong
The Top Ten Rules Hedge Fund Managers Should Follow to Attract and Keep Great Investors
Jeff Banfield, JMO Research, Toronto
Financial Services Regulation in Australia
Scott Charaneka, Norton Rose, Australia and Michelle Asimus, Pinsent Masons LLP, London
The Oil Markets: Let the Data Speak for Itself, Part 1
Hilary Till, Premia Capital Management LLC, Chicago and Research Associate, EDHEC-Risk Institute, Nice, France

Do BRICs (and Germans) Eat Pigs?
Niels C. Jensen, Absolute Return Partners LLP, London
An Investment Decision for the New Economic Reality: Hedge Funds or Discretionary Managed Accounts?
Victor L. Zimmermann, Joshua Geller and Bradley H. Doline, Curtis, Mallet-Prevost, Colt & Mosle LLP, New York
Alternative Investments: The Coming Wave of US Regulation
Keith T. Robinson and Derek B. Newman, Dechert LLP, Hong Kong
Hedge Fund Cost Survey: a UK Perspective
KPMG, London, UK

Liquidity Buckets, Liquidity Indices, Liquidity Durations and Their Applications to Hedge Funds
Ranjan Bhaduri & Christopher Art, AlphaMetrix Alternative Investment Advisors, LLC, Chicago.
President's Working Group Recommends Best Practices for US Hedge Fund Industry
Keith T. Robinson & Derek B. Newman, Dechert LLP, Hong Kong.
Hedge Fund Legal Structures and Their Impact on Performance
Bhaswar Guptha and Edward Szado, CISDM, Isenberg School of Management, University of Massachusetts.
Shari'ah Compliant Hedge Funds: Commencing With First Principles
Michael J. McMillen, Fulbright & Jaworski LLP, New York.

The quarter paradox: IPOs and meltdowns
Lipper HedgeWorld Staff.
Dispelling PIPE myths
Derek Buntain, Dundee Leeds Management Services Ltd, Bermuda.
A progressive view of real estate risk
Gerald Blundell, LaSalle Investment Management, London.
Three early lessons from the sub-prime lending crisis: A French answer to President Sarkozy
Noel Amenc, EDHEC Risk and Management Research Centre, France.
Intelligent commodity investing
Edited by Hilary Till, Premia Capital Management, Chicago.

The Quarter past: editorial analysis of recent market developments
- Lipper Hedgeworld.com staff, Chicago.
2006 Alternative Investment Survey
John Dyment, Jon Olstein and Annalisa Jones, Deutsche Bank Hedge Capital Group, New York.
Investment Smorgasboard
Hemal Naran, HSBC Actuaries and Consultants Ltd.,UK.
Canadian Hedge Fund Market Poised for Growth
Erwin Stuart and Alex Chapman, Mintz Fund Services,Toronto.
Blowups: A Year to Remember
Emma Trincal, Lipper HedgeWorld.com, New York.
(Back-issues are available at a cost of US$50. Purchasers will receive a hard-copy by courier and also a copy in Pdf format by email. To read excerpts from this issue, or to order your copy, simply click this link.)

The Quarter past: editorial analysis of recent market developments
Lipper Hedgeworld.com staff, Chicago.
Commercial Real Estate: the oldest alternative
Gerald Blundell, Lasalle Investment Management, London.
AICPA issues financial reporting guidance for unregistered investment partnerships
Stuart Cohen, Ernst & Young LLP, New York.
Alternative investment styles for institutional investors: the endowment model
John E. Dunn III, Geneva.
Benefits and limitations of managed accounts
Jean-Rene Girauad, Edhec-Risk and Asset Management Research Centre, Nice.
Investing in sustainability
Storm le Roux, Ascot Sustainability Finance, London.
Contrarian investing: some see opportunity where others flee
Chidem Kurdas, Lipper HedgeWorld.com
(Back-issues are available at a cost of US$50. Purchasers will receive a hard-copy by courier and also a copy in Pdf format by email. To read excerpts from this issue, or to order your copy, simply click this link.)

Hedge Fund Clones: A Much Safer Way to Play
Written by: Martina Cassani, Cass Business School, London and Daniel Giamouridis, Athens University of Economics and Business, Athens
The Value of Liquidity and Option Timing From a Simple Game
Written by: Niall Whelan, ScotiaBank, Toronto and Ranjan Bhaduri, AlphaMetrix Alternative Investment Advisors, Chicago
Does Independent Credit Research Add Value?
Written by: Julien Rerolle and Cédric Rimaud, Spread Research, France
Cayman Islands Funds: A New Gateway to Capital Markets in India
Written by: Dennis Ryan and Sonia Xavier, Conyers Dill & Pearman, Dubai

A Year of Crisis from July 2007 to June 2008: Have Hedge Funds Kept Their Absolute Return Promises?
Philippe Malaise, EDHEC Business School.
A Statement in Sheep's Clothing: Why Should Canada Care About FAS Statement 157?
James Loewen and Laura Macdonald, KPMG, Toronto.
The Birth of the Life Market
David Blake, Andrew Cairns, Kevin Dowd,The Pensions Institute, London.
A Sunny Outlook for Clean-tech
Richard Goodman, Sandfire Securities Inc., Toronto.
2008 Return Differences Between Small and Large Hedge Funds
Laurent Favre, AlternativeSoft, London.

The quarter past: Hedge Funds Stagger Through First Quarter '08
Lipper HedgeWorld Staff, Chicago.
2008: The Year of the Activist Hedge Fund
Damien J. Park, Hedge Fund Solutions, Philadelphia.
Servicing the Investment Industry with Excellence: A Personal Perspective
Edith G. Conyers, ISIS Fund Services, Bermuda.
Life Settlements: And Now For Something Completely Different
Allan Meyer, Wickham Investment Counsel Inc. Hamilton, Bermuda.
Fed's Role Questioned in Bear's Rescue
Emma Trincal, HedgeWorld.com Staff, New York.
An Examination of Fund Age and Size and Its Impact on Hedge Fund Performance
Meredith Jones, Pertrac Financial Solutions, New York.
Legislative Changes in Bermuda
Anthony Whaley, Conyers, Dill & Pearman,

The quarter past: editorial analysis of recent market developments
Lipper HedgeWorld Staff.
Exiting hedge fund incubator models
Peter D. Astleford, Chris Carrodus and Peter Draper,
Dechert LLP, London.
World's unions debate: are hedge funds 'locusts' or 'termites'?
Christopher Holt, Holt Capital Advisors Ltd., Toronto.
Recent developments in the regulation of hedge fund managers in Australia
Scott Charaneka and Gregory Wong, Deacons, Australia.
Wien's advice: 'seek $100 million and volatile returns'
Martin de Sa'Pinto, Senior Financial Correspondent, HedgeWorld.
Factor exposures and hedge fund operational risk: the case of amaranth
Bhaswar Gupta and Hossein Kazemi, CISDM, Isenberg School of Management, The Univeristy of Massachusetts, Amherst, MA.

The Quarter past: editorial analysis of recent market developments
Lipper Hedgeworld.com staff, Chicago.
Recently enacted Pension Protection Act will make it easier for hedge fund managers to accept pension investment
Michael G. Tannenbaum & J Michael Roebuck, Tannenbaum, Helpern, Syracuse & Hirshtritt LLP, New York.
The 'forced' institutionalisation of the hedge funds industry
Marc Russell-Jones, Northern Trust, London.
A daily dealing fund of hedge funds: Is it a dream?
David P.M. Blair, Custom House Administration and Corporate Services, Dublin.
Using and interpreting the correlation coefficient in hedge fund of fund comparisons
James A. Knowles, York Investment Strategies Inc., Toronto
How can we protect hedge fund investors?
- Alex Chapman, Mintz Fund Services, Toronto
Challenges to Algorithmic Trading in FX markets
Bob McDowall, 1E4C Ltd., London.
What to do about commodities
Greg Smith, Global Commodities Ltd., Australia.
(Back-issues are available at a cost of US$50. Purchasers will receive a hard-copy by courier and also a copy in Pdf format by email. To read excerpts from this issue, or to order your copy, simply click this link.)

The quarter past: editorial analysis of recent market developments
Lipper HedgeWorld.com staff, Chicago.
Do funds of funds add value?
Zhiyi Song, Phd., CFA, Greenwich-Van, Greenwich, CT.
The new Spanish regulations on hedge funds
Inigo Gomez-Jordana, Magdalena Bertram, Luis de Valle, Allen & Overy LLP, Madrid.
Asset allocation within a fund of hedge funds
Ezra Zask, Azimuth Trust Company, NY.
Hedge funds in South Africa
Ian Hamilton, IDS Group, Cape Town.
Amendments to the Hong Kong SFC's Hedge Fund Guidelines Chapter 8.7 of the Code on Unit Trusts and Mutual Funds
Stewart Aldcroft, Noble Investments Hong Kong Limited, Hong Kong.
(Back-issues are available at a cost of US$50. Purchasers will receive a hard-copy by courier and also a copy in Pdf format by email. To read excerpts from this issue, or to order your copy, simply click this link.)

Investing in Hedge Funds in Emerging Markets: The Prudent Approach
Sundar Arumugam, revised and updated by Peter Douglas, CAIA and Chin Yingwen, CAIA, GFIA, Singapore.
The Hedge Fund Redemption
Alex Potts, Conyers Dill & Pearman, Bermuda.
How Regulation and Tax are Creating the Perfect Storm for Hedge Fund Managers
Nathan Hall and Paul Valente, KPMG LLP, UK.
The Financial Services Authority's Overhaul of Liquidity Regulation
William Yonge, Proskauer Rose LLP, London.

Second Quarter: 'Calm Before the Storm'
HedgeWorld Staff, Chicago.
SEC and FSA Clamp Down on Short Selling of Financial Firms
Elliot R. Curzon, Jennifer Epstein, David A. Vaughan, Richard L. Heffner, Alan Rosenblat, Patrick, W. Dennis and Darina F. O’Connor, Dechert LLP.
Positioning Investors for Opportunities in the Credit Cycle
John E. Dunn, III, Oak Point Investments, Geneva and Craig Brownell, Muirfield Capital Managment, New York.
Monday 22 September: The Day the Contrails Faded
Chris Holt, www.AllAboutAlpha.com.
Airlines: A Play on Oil or a Real Investment Opportunity?
Dr. Fred Lazar, Schulich School of Business, York University, Toronto.
KPMG's Latin American Capital Flows Survey
Jose Aldrich, KPMG’s Iberoamerica Tax Services, Miami.
An Open Letter to the Financial Times
Simon Ruddick, Albourne Partners, London.
Canadian Hedge Fund Industry Celebrated the Best-of-the-Best
The Hedge Funds Awards, The Boiler House, Toronto.

The quarter past: editorial analysis of recent market developments
Lipper HedgeWorld Staff.
130/30 Strategies: Anew Paradigm or a Fad? Exclusive Results From a Survey
Christopher Holt, AllAboutAlpha.com.
Basics of Seeding and Incubation
Ian Morley, Dawnay, Day Group.
The Role of Independent Directors
Geoff Ruddick, International Management Services Ltd.
Hedge Funds in the Middle East
Antoine Massad, Man Investments Middle East Ltd.
Book Review:
Rumors in Financial Markets, written by Mark Schindler
(Reviewed by: Fabrice Rouah, State Street Corporation.)

The quarter past: editorial analysis of recent market developments
Lipper HedgeWorld Staff.
Issues for asset-based lending funds — protecting your collateral in structured cross-border commodity finance
R. Jay Fortin and Victor L. Zimmermann, Jr., Curtis, Mallet-Prevost, Colt & Mosle, LLP.
Quantification of hedge fund default risk
Corentin Christory, Olympia Capital Management, Stéphane Daul RiskMetrics Group and Jean-René Giraud, EDHEC.
Entrenched corporate empires strike back
Christopher Faille, Lipper HedgeWorld, Chicago.
Portable alpha on the back of an envelope
Christopher Holt, Holt Capital Advisors Ltd., Toronto.
Cayman Islands: Where to set up and, perhaps, manage a hedge fund
Peter Astleford, Dechert LLP, London and Susan Harper, and David Whittome, Walkers, London.

The Quarter past: editorial analysis of recent market developments
Lipper Hedgeworld.com staff, Chicago.
Where academics and practitioners got it wrong
Thomas Schneeweis, CISDM, Amherst, Massachusetts
Re-evaluating effective valuation, risk and controls
Lynn Connolly, Deloitte & Touche LLP, New York.
Hedge funds in Spain
Juan Sosa, Arturo Reinaand Alvaro Munoz, Simmons & Simmons, Madrid .
Why emerging hedge funds outperform the emerging hedge fund life cycle
John Dunn III, Thunderbird, The Garvin School of International Management, Geneva and Tushar Patel, Hedge Funds Investment Management, London
Dubai: new fund regulations to open 'flood gates'?
Marc V. Kramer, Curtis Mallett-Prevost Colt & Mosle LLP, Frankfurt/London.
Why UK institutions are hedge fund shy and what can be done to change their perspective
Jamie Murray, HSBC Republic Investments Limited, London.
(Back-issues are available at a cost of US$50. Purchasers will receive a hard-copy by courier and also a copy in Pdf format by email. To read excerpts from this issue, or to order your copy, simply click this link.)

The quarter past: editorial analysis of recent market developments
Lipper HedgeWorld.com staff, Chicago.
The hedge fund regulation debate
Ian Morley, Dawnay, Day Group, London.
Private Equity in the shadow of Sarbanes-Oxley
Chris Votta & Nick Gajdjis, Ernst & Young LLP, New York.
Trends and Transformations in fund administration
Marina Lewin, The Bank of New York, New York.
Optimal alternative diversification made simple
Matthieu Vaissié, EDHEC Risk and Asset Management Research Centre, France.
Where to set up and, perhaps, manage a hedge fund? - Special Feature: Isle of Man.
Peter Astleford, Dechert LLP, London.
Malta making headway as a fund domicile
William Yonge, McDermott Will & Emery LLP, London and Andre Zerafa, Ganado & Associates, Valletta.
Energy hedge funds: its all about risk/reward
Peter C. Fusaro, and Gary M. Vasey, Energy Hedge Fund Center, New York.
The Pension Protection Act of 2005: Proposed amendments to ERISA Pass House Committee - implications for hedge funds
Loretta M. Gavin, Ernst & Young, New York.
(Back-issues are available at a cost of US$50. Purchasers will receive a hard-copy by courier and also a copy in Pdf format by email. To read excerpts from this issue, or to order your copy, simply click this link.)