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"[Hedge funds have started to play an important role in financial markets during the last decade. They have affected important aspects of financial intermediation such as asset allocation decisions and corporate governance. Julian Holler provides an excellent theoretical and empirical analysis of these issues. His analysis offers strong support that hedge funds enable investors to improve asset allocation decisions. Consequently, hedge funds are an interesting alternative asset class for institutional investors. In contrast to results for the U.S. capital market his research provides evidence that hedge fund activism does not persistently increase the value of firms in Germany. This result suggests that the institutional environment has a strong influence on the effectiveness of corporate governance mechanisms., Hedge funds have started to play an important role in financial markets during the last decade. They have affected important aspects of financial intermediation such as asset allocation decisions and corporate governance. Julian Holler provides an excellent theoretical and empirical analysis of these issues. His analysis offers strong support that hedge funds enable investors to improve asset allocation decisions. Consequently, hedge funds are an interesting alternative asset class for institutional investors. In contrast to results for the U.S. capital market his research provides evidence that hedge fund activism does not persistently increase the value of firms in Germany. This result suggests that the institutional environment has a strong influence on the effectiveness of corporate governance mechanisms.]"

"How will the funds of hedge funds (FoHF) business have to change to survive in the wake of the 2008-2012 financial crisis? This new research provides valuable insight. Reconsidering Funds of Hedge Funds presents the first comprehensive views of UCITS as well as recent trends in due diligence, risk management, and hedge fund deaths and survivors. The book contains original chapters by 22 academics and 16 hedge fund professionals, and includes two sections on performance: one that looks at UCITS FoHF and one that deals with traditional FoHF performance. Most chapters examine aspects of the 2008-2012 financial crisis, and almost every chapter addresses fund of hedge funds' management process before, during, and after the crisis."

"This book will present a comprehensive view of the risk characteristics, risk-adjusted performances, and risk exposures of various hedge fund indices. It will distinguish itself from other books and journal articles by focusing solely on hedge fund indices and emphasizing tail risk as a predictor of hedge fund index returns. The three chapters in this short book have not been previously published."

"ABSTRAKTesis ini membahas tentang Sovereign Wealth Funds (SWF) sebagai danainvestasi khusus yang dimiliki pemerintah pusat, dibentuk untuk tujuan-tujuanmakroekonomi. SWF mengelola aset untuk mencapai tujuan financial danmelaksanakan serangkaian strategi penanaman modal yang meliputi investasi asetkeuangan di luar negeri. Santiago Principles yang difasilitasi dan didukung IMFpada bulan Oktober 2008 telah berhasil merumuskan arahan bagi negara-negarapeserta IMF yang telah memiliki SWF yaitu Generally Accepted principles andPractices (GAPP). Kajian penelitian dalam perspeltif Hukum Ekonomilntemasional -

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ABSTRACTThis thesis studies the SWFs which are defined as special purpose investmentfunds or arangements, owned by the general government. Created by thegeneral govemment for macroeconomic purposes. SWFs hold, manage, oradminister assets to achieve financial objectives, and employ a set of investmentstrategies, which include investing in foreign financial assets. Santiago principlesfacilitated and supported by IMF in October 2008 has succeeded in identif,ingand drafting a set of Generally Accepted Principles and practices (GApp). ihi;subject is studied in Intemational Economic Law's perspective."

"Tugas akhir ini akan memperkenalkan konsep mengenai Aljabar Hedge beserta sifat-sifatnya. Konsep ini berguna bagi seseorang dalam membuat keputusan untuk memilih satu dari bermacam alternatif kata (term) yang ada dalam bahasa berdasarkan pada evaluasi mereka terhadap arti dari term-term dalam suatu himpunan term dari suatu variabel linguistik. Dalam pemilihan term tersebut, dapat dilakukan pendekatan aljabar pada himpunan term. Dari himpunan term yang ada, dapat didefinisikan himpunan dari hedge linguistik yang berperan dalam menguatkan atau melemahkan arti dari term. Di dalam himpunan hedge linguistik didefinisikan suatu hubungan keterurutan antar hedge linguistik. Keterurutan hedge linguistik ini akan mendefinisikan hubungan keterurutan antar term dalam himpunan term yang dinotasikan dengan ??. Konsep Aljabar Hedge ini dibentuk berdasarkan oleh sifat-sifat intuisi penting dari term dan hedge yang terdapat dalam himpunan term. "

"Penelitian ini membahas tentang kebijakan pengelolaan Dana Pengembangan Pendidikan Nasional (DPPN) yang di lakukan oleh Badan Layanan Umum Lembaga Pengelola Dana Pendidikan, DPPN dikelola dengan dasar Peraturan Pemerintah Nomor 23 Tahun 2015 tentang Pengelolaan Keuangan Badan layanan Umum. Instrumen yang digunakan adalah investasi jangka pendek berupa deposito dan surat utang negara serta obligasi korporasi yang kompetitif. Kebijakan arah invetasi DPPN ditetapkan oleh Dewan Penyantun LPDP mulai tahun 2013- 2015.Hasil kelola DPPN tersebut digunakan dengan tujuan untuk menjamin keberlangsungan program pendidikan bagi generasi berikutnya sebagai bentuk pertanggungjawaban antargenerasi (intergenerational equity) dalam bentuk investasi antara lain digunakan untuk pemberian beasiswa, dan pendanaan riset. Pengelolaan DPPN yang menggunakan investasi jangka pendek pun tidak selamanya dapat memenuhi tuntutan kinerja layanan di masa depan. Kebijakan dari Dewan Penyantun yang terbaru pun diharapkan menetapkan arah dan kebijakan investasi yang lebih fleksibel dengan berpedoman prinsip investasi LPDP.

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This study discusses the National Education Development Fund (DPPN) management policy carried out by the Public Service Agency Lembaga Pengelola Dana Pendidikan (BLU LPDP), the DPPN is managed on the basis of Government Regulation Number 23 of 2015 concerning Financial Management of Public Service Agencies. The instruments used are short-term investments in the form of deposits and government bonds and competitive corporate bonds. The DPPN investment direction policy is set by the LPDP Trustees Council from 2013-2015.The results of the DPPN management are used with the aim of ensuring the continuity of the education program for the next generation as a form of intergenerational equity in the form of investments, among others, used for scholarships and research funding. DPPN management that uses short-term investments cannot always meet the demands of service performance in the future. The policy of the latest Board of Trustees is also expected to establish more flexible investment directions and policies based on LPDP investment principles."