Private, Listed, and Digital Asset Access
Free CAIA Level II lesson in Accessing Alternative Investments. 31 min read, ~4,718 words.
Financial market segmentation means clientele differences produce price and risk-premium gaps for similar assets; equity markets are segmented between private and listed access. Listed assets carry seven potential advantages and privately organized assets carry seven; only incentivized managers and managerial flexibility plausibly offset private equity's high fees (the governance paradigm)...
Read the full lesson, free →
Worked examples and practice. Free with a free account, no card.
What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- replication overview
- case for replication
- replication benefits
- factor replication
- algorithmic replication
- hf risk returns evidence
- hf access approaches
- fohf characteristics
- fohf construction
- fohf value add
- investable hf indices
- private vs listed
- unlisted re funds
- pe re performance drivers
- listed re funds
- investing commodities
- etns private commodities
- leveraged option commodities
- managing commodity exposure
- accessing digital assets
- illiquidity premium listed
- private vs listed re perf
- pme challenges
- multiple eval tools
- irr aggregation
- private fund considerations
Browse all free CAIA Level II lessons or jump into free CAIA Level II practice questions.