RT Journal Article SR Electronic T1 The Benefits of Hedge Funds JF The Journal of Alternative Investments FD Institutional Investor Journals SP 7 OP 26 DO 10.3905/jai.2001.319017 VO 4 IS 3 A1 Thomas Schneeweis A1 George A Martin YR 2001 UL https://pm-research.com/content/4/3/7.abstract AB Academic and practitioner research has previously focused on the performance of various hedge fund strategies as stand-alone investments and as part of traditional stock and bond portfolios. In this article evidence is presented on the actual drivers of return of the various strategies and how traditional style-based performance analysis and asset allocation frameworks (e.g., mean/variance return/risk optimization) can be used to determine the appropriate allocation to hedge funds.