The hedge-fund industry has grown rapidly over the past two decades, offering investors
unique investment opportunities that often reflect more complex risk exposures than those of …

The challenge posed by historically low-interest rates is particularly significant for insurance
companies, especially those specializing in life insurance. This study investigates a potential …

In this paper, we study the connectedness between extreme losses of hedge funds, a crucial
feature for systemic risk management. To do so, we exploit cross-sections of hedge funds …

Importance sampling (IS), as an efficiency improvement technique for Monte Carlo
simulations, is particularly well-suited for correlation products which have payoffs contingent …

The data dependency of empirical financial research is of common concern to both
academics and practitioners. This is especially true for hedge funds because no single …

In this article, the authors examine three hedge fund governance characteristics-restrictions
on investor liquidity, the presence of a high-water mark, and the level of fees charged to …

The growing complexity of financial markets makes it increasingly challenging for
institutional investors to manage their asset-liability profile efficiently. This is especially true …

Collective investment schemes have long been an important part of many investors'
portfolios. However, hedge funds, a category of investment funds specifically aimed at …

Shadow banking has come into the scope of many central banks as they try to prevent
another financial crisis. The risk factors of shadow banking should include many …

There is growing empirical evidence that the complexity of financial markets makes it
increasingly challenging for institutional investors to manage their asset/liability profile …