Due the fact that hedge funds deal in both liquid or illiquid assets, a number of added nuances and complexities tend to have an impact on the pricing process. Prices of liquid instruments are readily available and less disputable, which is why those that deal in liquid instruments, such as long-short, global macro and activist funds, have a more straightforward pricing process. For funds that deal in illiquid assets, such as swaps, ABS, MBS, bank debt, loans and private deals, the pricing process is a much more involved exercise for each of the following reasons: Read More
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