Top Hedge Fund Investors

Top Hedge Fund Investors
Author: Cathleen M. Rittereiser,Lawrence E. Kochard
Publsiher: John Wiley & Sons
Total Pages: 222
Release: 2017-10-09
ISBN 10: 0470501294
ISBN 13: 9780470501290
Language: EN, FR, DE, ES & NL

Top Hedge Fund Investors Book Review:

A professional's guide to the world of hedge fund investing Throughout the financial crisis of 2008, many hedge funds suffered massive losses and were often blamed for the extreme market upheavals. In the wake f the crisis, hedge funds remain a source of fascination for the media, legislators, and investors, mostly due to misunderstanding. Historically portrayed as risky investment funds for the very wealthy run by swashbuckling traders, the truth is hedge funds are simply an investment vehicle designed to generate superior returns and reduce an investor's overall portfolio risk. Investors have good reasons to remain fascinated with hedge funds. Although many individual funds have underperformed or collapsed, hedge funds as a whole have provided solid returns while reducing risks. Savvy institutions have invested in hedge funds for many years and have made them a large and powerful force in the markets. Investing in hedge funds requires sophisticated knowledge, understanding, skill, access, and experience. Individuals and institutions, whether they are new to hedge funds or need to improve, can find those attributes in the stories of the successful hedge fund investors profiled in Hedge Fund Investors. Hedge Fund Investors chronicles the challenges and rewards these investors face, in selecting hedge fund managers, managing risks, and constructing portfolios. In revealing conversations, leading hedge fund investors who place hundreds of billions of dollars in hedge funds, share their philosophies, strategies, and advice. Profiles a variety of different investors from the pioneers in hedge fund investing to managers for high net-worth individuals and fund of funds investors Discusses winners and losers in the recent market decline, problematic hedge fund strategies, and how these current events will change future strategies Provides lessons, insights, and advice beneficial to all hedge fund investors Engaging and informative, Hedge Fund Investors will prove valuable to anyone involved in placing money with hedge funds, as well as hedge funds who seek to better understand their clients.

A Practical Guide to Hedge Funds

A Practical Guide to Hedge Funds
Author: Renata Neufeld
Publsiher: Doubletree Press
Total Pages: 160
Release: 2004-08
ISBN 10: 9780974835402
ISBN 13: 0974835404
Language: EN, FR, DE, ES & NL

A Practical Guide to Hedge Funds Book Review:

Hedge fund investing is growing at a faster rate than any other kind of investing. While once only available to the rich and super rich, hedge funds are now becoming more widely available. There are between 6000-7000 hedge funds worldwide, with assets of approximately $650 billion. Industry predictions are that assets will exceed $1 trillion in the next 5 to 10 years as individual investors and pension plans seek to diversify their holdings. A Practical Guide to Hedge Funds will give you a basic understanding of what hedge funds are, how they work, how they compare to mutual funds and traditional investments, and what the results will likely be if you invest in them. This is one of the few books where you will read interviews with hedge fund investors and their investment experiences. If you're tired of depending on the traditional equity markets for your portfolio returns. A Practical Guide to Hedge Funds will help you discover what investing in hedge funds can do for you.

Investing in Hedge Funds

Investing in Hedge Funds
Author: Joseph G. Nicholas
Publsiher: John Wiley and Sons
Total Pages: 336
Release: 2010-05-20
ISBN 10: 9780470885031
ISBN 13: 0470885033
Language: EN, FR, DE, ES & NL

Investing in Hedge Funds Book Review:

Hedge funds are in the news and on the minds of sophisticated investors more than ever. Investors have questions about how the funds are structured, where the assets are allocated, and whether hedge funds can truly act as a hedge against market risk. The answers are all here in Investing in Hedge Funds. Until recently, much of what makes hedge funds tick has been closely guarded--the intellectual property of Wall Street's investment elite. In this updated and revised text, Joseph G. Nicholas, founder and chairman of the leading industry information provider Hedge Fund Research, Inc., travels inside the hedge fund marketplace to explain the alternative investment strategies of top fund managers, providing clear descriptions of how to access these funds and where they're headed. It's a complete guide that everyone investing in hedge funds should study closely.

Hedge Funds For Dummies

Hedge Funds For Dummies
Author: Ann C. Logue
Publsiher: John Wiley & Sons
Total Pages: 360
Release: 2011-03-01
ISBN 10: 9781118050927
ISBN 13: 1118050924
Language: EN, FR, DE, ES & NL

Hedge Funds For Dummies Book Review:

If you want to diversify your portfolio and lower your risk exposure with hedge funds, here’s what you should know: Hedge Funds For Dummies explains all the different types of funds, explores the pros and cons of funds as an investment, shows you how to find a good broker, and much more. Authored by Ann Logue, a financial writer and hedge fund specialist, this handy, friendly guide covers all the bases for investors of all levels. Whether you’re just building your first portfolio or you’ve been investing for years, you’ll find everything you need to know inside: What a hedge fund is and what it does How hedge funds are structured Determining whether a hedge fund is right for your portfolio Calculating investment risk and return Short- and long-term tax issues Developing a hedge fund investment strategy Monitoring and profiting on macroeconomic trends Evaluating fund performance Evaluating hedge fund management If you’re investing for the future, you definitely want to minimize your risk and maximize your returns. A balanced portfolio with hedge funds is one of the best ways to achieve that sort of balance. This book walks you step by step through the process of evaluating and choosing funds, incorporating them into your portfolio in the right amounts, and making sure they give you the returns you expect and deserve. You’ll learn all the ins and outs of funds, including: What kind of fees you should expect to pay Picking a hedge fund advisor or broker Fulfilling paperwork and purchasing requirements Performing technical analysis and reading the data How to withdraw funds and handle the taxes Tracking fund performance yourself or through reporting services Hedge fund strategies for smaller portfolios Performing due diligence on funds that interest you This friendly, to-the-point resource includes information you can’t do without, including sample portfolios that show you how to invest wisely. Hedge funds are an important part of every balanced portfolio, and this friendly guide tells how to use them to your best advantage. With important resources, vital information, and commonsense advice, Hedge Funds For Dummies is the perfect resource for every investor interested in hedge funds.

The Hedge Funds Book

The Hedge Funds Book
Author: Alan Northcott
Publsiher: Atlantic Publishing Company
Total Pages: 288
Release: 2010
ISBN 10: 1601380003
ISBN 13: 9781601380005
Language: EN, FR, DE, ES & NL

The Hedge Funds Book Book Review:

Money managers have traditionally used hedge funds as they would mutual funds: to pool investors' money and place it in financial instruments in an effort to make a high positive return. Hedge funds have typically been available only to the very affluent or to investors with inside contacts, but today that has changed. Almost any investor can now participate in a hedge fund and earn high returns. Why should you consider investing in a hedge fund? One reason is simply the high potential returns. Since January 1990, as measured by the HFRI Fund Weighted Composite Index, which accounts for more than 1,600 funds listed on the internal Hedge Fund Research (HFR) Database, hedge funds have returned 14 percent per year through October 2005. Many funds have earned triple digit returns. As with many other business segments, the Internet and technology have opened up this attractive marketplace to a new breed of individual investors and speculators working part-time. You and I are now on an even playing field with the largest banks, wealthiest individuals, and trading institutions from the comfort of our own homes. Hedge funds can provide you with very high, secure rate of return 12%, 18%, 24%, or even 300% per year. If performed correctly, hedge fund trading will far outpace all other investments. This all sounds great, but what is the catch? There really is none, except you must know what you are doing! The key is learning how to proceed. This groundbreaking and exhaustively researched new book will provide everything you need to know to get you started generating high-investment returns with low risk from start to finish. In this easy to read and comprehensive new book, you will find out how to invest in hedge funds, evaluate their performance, and employ investing strategies and tactics, deftly using the latest technology to set up your account online. You will be able to handle fees, taxes, and risks, and you will get little known data to help you double or even triple your investment all while avoiding the common traps and pitfalls. In addition, we took the extra effort and spent an unprecedented amount of time researching, interviewing, e-mailing, and communicating with hundreds of today s most successful hedge fund investors. Aside from learning the basics of hedge fund trading, you will be privy to investors closed club secrets and proven successful ideas. Instruction is great, but advice from experts is even better, and the experts chronicled in this book are earning millions. If you are interested in learning essentially everything there is to know about hedge fund investing along with hundreds of hints, tips, strategies, and inside advice, then this book is for you.

Hedge Fund Investing

Hedge Fund Investing
Author: Kevin R. Mirabile
Publsiher: John Wiley & Sons
Total Pages: 368
Release: 2013-01-07
ISBN 10: 1118330692
ISBN 13: 9781118330692
Language: EN, FR, DE, ES & NL

Hedge Fund Investing Book Review:

The most up-to-date look at how to understand, and invest in, hedge funds A new updated set of end of chapter problems and test bank questions is now available for the first edition. This material now includes a selection of supplemental problems and test bank questions specifically related to portfolio financing tools and techniques. Hedge funds are an essential part of the alternative investing arena, and will continue to be so for the foreseeable future. It's important that those investing, or thinking about investing, with hedge funds know exactly what they are about. That's why Kevin Mirabile—a financial professional with over twenty years of business development, regulatory, financing, trading, and sales experience in the hedge fund sector—has created Understanding Hedge Fund Investing. Page-by-page, this reliable resource offers valuable insights into one of the most competitive parts of the investment world. Along the way, you'll become familiar with the evolution of hedge funds and their structure as well as discover what types of individuals and institutions invest using hedge funds. Mirable also takes the time to examine the risks of investing in hedge funds and talks about hedge fund financial statements and taxation. Provides complete coverage of this important investment vehicle, from its different types of investing strategies and styles to what it takes to be a hedge fund manager Multiple-choice questions follow each chapter to assess your comprehension of the topics covered A companion Website contains portfolio models that can be uploaded for use as well as supplementary material that allows you to learn in a hands-on fashion long after closing the book Hedge funds offer investors opportunities that aren't usually found elsewhere. But to benefit from them, you first must understand them. This book has the information you need to succeed at this difficult endeavor.

The Little Book of Hedge Funds

The Little Book of Hedge Funds
Author: Anthony Scaramucci
Publsiher: John Wiley & Sons
Total Pages: 272
Release: 2012-04-03
ISBN 10: 1118237072
ISBN 13: 9781118237076
Language: EN, FR, DE, ES & NL

The Little Book of Hedge Funds Book Review:

The Little Book of Hedge Funds that's big on explanations even the casual investor can use An accessible overview of hedge funds, from their historical origin, to their perceived effect on the global economy, to why individual investors should understand how they work, The Little Book of Hedge Funds is essential reading for anyone seeking the tools and information needed to invest in this lucrative yet mysterious world. Authored by wealth management expert Anthony Scaramucci, and providing a comprehensive overview of this shadowy corner of high finance, the book is written in a straightforward and entertaining style. Packed with introspective commentary, highly applicable advice, and engaging anecdotes, this Little Book: Explains why the future of hedge funds lies in their ability to provide greater transparency and access in order to attract investors currently put off because they do not understand how they work Shows that hedge funds have grown in both size and importance in the investment community and why individual investors need to be aware of their activities Demystifies hedge fund myths, by analyzing the infamous 2 and 20 performance fee and addressing claims that there is an increased risk in investing in hedge funds Explores a variety of financial instruments—including leverage, short selling and hedging—that hedge funds use to reduce risk, enhance returns, and minimize correlation with equity and bond markets Written to provide novice investors, experienced financiers, and financial institutions with the tools and information needed to invest in hedge funds, this book is a must read for anyone with outstanding questions about this key part of the twenty-first century economy.

Hedge Funds

Hedge Funds
Author: IMCA
Publsiher: John Wiley & Sons
Total Pages: 224
Release: 2003-03-10
ISBN 10: 0471473421
ISBN 13: 9780471473428
Language: EN, FR, DE, ES & NL

Hedge Funds Book Review:

A well-rounded hedge fund guide for the serious financial professional Alternative investment strategies-hedge funds in particular-have experienced a significant resurgence recently, largely in response to the dramatic downturn of the global equity markets. In response to this explosion in popularity, this book focuses on many of the best moneymaking strategies related to these alternative investment vehicles. IMCA (The Investment Management Consultants Association) is a professional association established in 1985, representing the investment consulting profession in the U.S. and Canada. Kenneth S. Phillips is a member of the IMCA Advisory Council and Managing Principal of Capital Partners, LLC. Ron Surz, CIMA, is a member of the IMCA Board of Directors and the President of PPCA Inc.

Hedge Funds Of Funds

Hedge Funds Of Funds
Author: Chris Jones
Publsiher: John Wiley & Sons
Total Pages: 288
Release: 2008-04-30
ISBN 10: 0470727829
ISBN 13: 9780470727829
Language: EN, FR, DE, ES & NL

Hedge Funds Of Funds Book Review:

Hedge Funds of Funds: A Guide for Investors is a comprehensive guide to investing in hedge funds of funds. Written by an experienced practitioner in clear, concise and jargon free language, this book gives an inside view of this often opaque area and empowers readers with the tools to get to the bottom of how hedge funds of funds really work. Key features include: A full description of the skill sets and facets needed in all areas of a hedge funds of funds; A wide-ranging set of questions to ask when assessing every area of a hedge fund of funds; Advice on every part of the process when investing in a hedge fund of funds, from short-listing through to mandate design and benchmarking; Two comprehensive practical examples of investment reports on both a hedge fund and a hedge fund of funds; A comprehensive analysis of recent developments in the field; A glossary of hedge fund terminology to help the reader de-code the jargon associated with the area. This book is essential reading for all those interested in developing depth to their understanding of how to invest in hedge funds of funds and how they, in turn, invest with hedge funds.

Investing in Hedge Funds

Investing in Hedge Funds
Author: Joseph G. Nicholas
Publsiher: Bloomberg Press
Total Pages: 320
Release: 1999-01-01
ISBN 10: 9781576600603
ISBN 13: 1576600602
Language: EN, FR, DE, ES & NL

Investing in Hedge Funds Book Review:

This is the first book for consumers who want to learn more about investing in hedge funds. It's the only resource that describes how hedge funds work specifically for individuals-including risk factors. Written by a professional investment adviser, Investing in Hedge Funds demystifies hedge funds and walks the consumer through the investment process step by step.

Tactical Portfolios

Tactical Portfolios
Author: Bailey McCann
Publsiher: John Wiley & Sons
Total Pages: 224
Release: 2014-03-04
ISBN 10: 1118731638
ISBN 13: 9781118731635
Language: EN, FR, DE, ES & NL

Tactical Portfolios Book Review:

Take an active management approach with liquid alternatives to increase R.O.I. Take advantage of inefficiencies in the market by investing in alternative assets. Hedge fund and private equity investment diversifies your portfolio and helps shield you from market volatility, allowing your more passive assets to work the long game. In Tactical Portfolios: Strategies and Tactics for Investing in Hedge Funds and Liquid Alternatives, author Bailey McCann guides you through the principles of hedge fund investment and the associated philosophies of risk management strategies. McCann's background in reporting and analyzing government policy and regulatory issues positions her as a valuable source of strategic investment advice. As Senior Editor of Opalesque's Alternative Market Briefing, her take on the market is read by every one of the top 100 hedge fund managers on a daily basis. In Tactical Portfolios: Strategies and Tactics for Investing in Hedge Funds and Liquid Alternatives, McCann goes in-depth on important topics. Strategies for equities, managed futures and fixed income What to expect and common misconceptions Investment mechanics of specific strategies Valuation, red flags, and regulatory changes If your passive approach has failed to produce the desired results, liquid alternative investment may be the answer. While long/short will always be around, external forces can change its impact on your portfolio and it may be time to expand your investment arsenal. Tactical Portfolios: Strategies and Tactics for Investing in Hedge Funds and Liquid Alternatives will help you get the most out of any market.

Absolute Returns

Absolute Returns
Author: Alexander M. Ineichen
Publsiher: John Wiley & Sons
Total Pages: 528
Release: 2002-11-29
ISBN 10: 0471432547
ISBN 13: 9780471432548
Language: EN, FR, DE, ES & NL

Absolute Returns Book Review:

A practical guide to strategies of hedge fund investing. Hedge fund expert Alexander Ineichen outlines strategies that hedge fund managers use to achieve superior investment performance, particularly in bear markets, when traditional investment strategies do not perform so well, and shows readers how hedge funds might be added to traditional investment portfolios to achieve superior returns. Nontechnical yet sophisticated, Absolute Returns shows investors how to make educated decisions about hedge fund investment--thoroughly explaining the risks as well as the rewards.

Investment Strategies of Hedge Funds

Investment Strategies of Hedge Funds
Author: Filippo Stefanini
Publsiher: Wiley
Total Pages: 336
Release: 2006-08-21
ISBN 10: 9780470026274
ISBN 13: 0470026278
Language: EN, FR, DE, ES & NL

Investment Strategies of Hedge Funds Book Review:

One of the fastest growing investment sectors ever seen, hedge funds are considered by many to be exotic and inaccessible. This book provides an intensive learning experience, defining hedge funds, explaining hedge fund strategies while offering both qualitative and quantitative tools that investors need to access these types of funds. Topics not usually covered in discussions of hedge funds are included, such as a theoretical discussion of each hedge fund strategy followed by trading examples provided by successful hedge fund managers.

The Prudent Investor s Guide to Hedge Funds

The Prudent Investor s Guide to Hedge Funds
Author: James P. Owen
Publsiher: John Wiley & Sons
Total Pages: 256
Release: 2001-05-02
ISBN 10: 0471436739
ISBN 13: 9780471436737
Language: EN, FR, DE, ES & NL

The Prudent Investor s Guide to Hedge Funds Book Review:

Hedge funds are typically thought of as highly risky investments. Not so. In fact, some hedge funds are among the most conservative investments you can make. While speculative, high-flying hedge funds make the headlines, others quietly go about the work of crafting unique investment strategies and hedging portfolios against market risk. This much-needed book shows why affluent investors who want to be financially secure through retirement should know about hedge funds. Its blend of facts, practical tips, and personal insights takes the mystery out of this often misunderstood investment vehicle and reveals the critical questions to ask before you invest. James P. Owen (Santa Barbara, CA) has more than 30 years of experience in the investment management industry and is Senior Vice President of Broadmark Asset Management. Previously he was President of JPO Inc. and a partner with NWQ Investment Management Company. He is co-founder of the Investment Management Consultant s Association (IMCA); author of the financial bestseller, The Prudent Investor: The Definitive Guide to Professional Investment Management; and was associate producer of the PBS television series,Beyond Wall Street: The Art of Investing

Getting Started in Hedge Funds

Getting Started in Hedge Funds
Author: Daniel A. Strachman
Publsiher: John Wiley & Sons
Total Pages: 208
Release: 2010-12-07
ISBN 10: 0470630256
ISBN 13: 9780470630259
Language: EN, FR, DE, ES & NL

Getting Started in Hedge Funds Book Review:

The book on hedge fund basics, completely updated to reflect today’s post-crisis industry The hedge fund industry has been reeling in the wake of recent Ponzi schemes and insider trading scandals as well as the loss of billions of dollars in assets under management due to fund closures. Getting Started in Hedge Funds, Third Edition focuses on the current state of the industry; how hedge funds did or did not survive the subprime and subsequent credit crisis; and, what the future holds for investors. Getting Started in Hedge Funds, Third Edition also provides readers with a brief overview of the industry's history, and describes the inner-workings of these complex investment vehicles, including how to start a hedge fund, and what new regulations means for managers and investors. • Profiles 10 highly successful hedge fund managers • Addresses the Madoff scandal, as well as other lesser known Ponzi schemes, and analyzes the ripple effect felt throughout the industry as a result of these and other scandals Despite the performance of some of these funds in the last few years, hedge funds are here to stay. In this Third Edition, Getting Started in Hedge Funds, Strachman provides an updated "how-to" guide for investors interested in hedge funds in this era of "new normal."

Hedge Fund Modelling and Analysis Using Excel and VBA

Hedge Fund Modelling and Analysis Using Excel and VBA
Author: Paul Darbyshire,David Hampton
Publsiher: John Wiley & Sons
Total Pages: 278
Release: 2012-03-05
ISBN 10: 0470747196
ISBN 13: 9780470747193
Language: EN, FR, DE, ES & NL

Hedge Fund Modelling and Analysis Using Excel and VBA Book Review:

Co-authored by two respected authorities on hedge funds and asset management, this implementation-oriented guide shows you how to employ a range of the most commonly used analysis tools and techniques both in industry and academia, for understanding, identifying and managing risk as well as for quantifying return factors across several key investment strategies. The book is also suitable for use as a core textbook for specialised graduate level courses in hedge funds and alternative investments. The book provides hands-on coverage of the visual and theoretical methods for measuring and modelling hedge fund performance with an emphasis on risk-adjusted performance metrics and techniques. A range of sophisticated risk analysis models and risk management strategies are also described in detail. Throughout, coverage is supplemented with helpful skill building exercises and worked examples in Excel and VBA. The book's dedicated website, www.darbyshirehampton.com provides Excel spreadsheets and VBA source code which can be freely downloaded and also features links to other relevant and useful resources. A comprehensive course in hedge fund modelling and analysis, this book arms you with the knowledge and tools required to effectively manage your risks and to optimise the return profile of your investment style.

Trade Like a Hedge Fund

Trade Like a Hedge Fund
Author: James Altucher
Publsiher: John Wiley & Sons
Total Pages: 240
Release: 2011-01-13
ISBN 10: 9781118045787
ISBN 13: 1118045785
Language: EN, FR, DE, ES & NL

Trade Like a Hedge Fund Book Review:

Learn the successful strategies behind hedge fund investing Hedge funds and hedge fund trading strategies have long been popular in the financial community because of their flexibility, aggressiveness, and creativity. Trade Like a Hedge Fund capitalizes on this phenomenon and builds on it by bringing fresh and practical ideas to the trading table. This book shares 20 uncorrelated trading strategies and techniques that will enable readers to trade and invest like never before. With detailed examples and up-to-the-minute trading advice, Trade Like a Hedge Fund is a unique book that will help readers increase the value of their portfolios, while decreasing risk. James Altucher (New York, NY) is a partner at Subway Capital, a hedge fund focused on special arbitrage situations, and short-term statistically based strategies. Previously, he was a partner with technology venture capital firm 212 Ventures and was CEO and founder of Vaultus, a wireless and software company.

Fundamentals of Hedge Fund Investing

Fundamentals of Hedge Fund Investing
Author: William J. Crerend,Robert A. Jaeger
Publsiher: McGraw Hill Professional
Total Pages: 183
Release: 1998
ISBN 10: 9780070135222
ISBN 13: 0070135223
Language: EN, FR, DE, ES & NL

Fundamentals of Hedge Fund Investing Book Review:

This authoritative overview, written for institutional investors and those with financial oversight responsibilities, reveals strategies, risks, and technical insights into the world of hedge fund investing. Key investment concepts such as evaluation techniques, monitoring tips, and indexation create a solid foundation for making informed investment decisions time after time.

The Long and Short Of Hedge Funds

The Long and Short Of Hedge Funds
Author: Daniel A. Strachman
Publsiher: John Wiley & Sons
Total Pages: 226
Release: 2008-12-03
ISBN 10: 0470466189
ISBN 13: 9780470466186
Language: EN, FR, DE, ES & NL

The Long and Short Of Hedge Funds Book Review:

An innovative A to Z guide to the world of hedge funds The Long and Short of Hedge Funds presents readers with a unique look at these investment vehicles, the people who run them, and those who provide services to them. This book is a detailed guide of the industry and offers rare access to hedge fund managers and industry participants. The book provides the reader with a real education about hedge funds, gaining a firm understanding of the industry.

The Hedge Fund Book

The Hedge Fund Book
Author: Richard C. Wilson
Publsiher: John Wiley & Sons
Total Pages: 208
Release: 2010-06-08
ISBN 10: 0470520639
ISBN 13: 9780470520635
Language: EN, FR, DE, ES & NL

The Hedge Fund Book Book Review:

An accessible guide to effectively operating in the hedge fund arena Hedge funds are now in the news more than a thousand times a day and yet it is hard to find clear, factual information about how they operate, raise capital, and invest. The Hedge Fund Book provides real-world case studies of various hedge fund managers providing a solid foundation in specialized hedge fund knowledge for both financial professionals and those aspiring to enter this field. It provides an analysis of funds within different phases of their life cycles and investment processes, and examines each cycle in ways that would be informational for marketers as well as investors, bankers, and financial professionals who would like to learn more about day-to-day hedge fund operations Addresses everything you need to know about this popular segment of the financial industry within a case study format Each chapter contains several types of investment and situational analyses, insights and best practices along with a review and "test your knowledge section" Written by a successful hedge fund consultant and head of one of the largest hedge fund networking groups in the industry with more than 30,000 members This book is required reading for participants within the hedge fund industry's leading designation program, the CHP Designation If you're looking to gain a better understanding of hedge funds, look no further than The Hedge Fund Book.