对冲基金、对冲策略以及市场中性

本文梳理了对冲基金的概念、特征及对冲策略,指出市场中性是这些对冲策略普遍存在的内在一致性要求。在此基础上,本文进一步讨论了市场中性策略的收益来源,分析了市场中性策略的做空优势,指出对冲策略拓宽了传统组合边界。

Hedge Fund,Hedging Strategies and Market-neutrality

Summarizing the concept,features and strategies of hedging,this paper points out that market-neutral is an internal consistency requirement for these hedge strategy in hedge funds.Based on the analysis of the hedge strategy,this paper discusses origin of return for market-neutral strategy,and points out that hedge strategy broadens the front of the portfolio by using the negative information.