Separating brilliant trades from style drift


Neuberger Berman’s Ian Haas on a common investor conundrum.

By Ian Haas

When it comes to hedge fund investing, the initial due diligence process is critical, but the real work begins after the investment has been made. One of the characteristics of hedge funds that make them unique and potentially attractive can also lead to headaches for investors – namely that hedge funds are often dynamic and constantly changing, free to tactically adjust gross and net exposures, to invest in new markets, new strategies and/or new instruments. The challenges associated with staying on top of these changes are often compounded by the fact that transparency