Alternative Investments Workbook

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 170,000 members in 160+ countries and territories, including 163,000 CFA®; charterholders, and 150+ member societies. For more information, visit www.cfainstitute.org.

• Part I Learning Objectives, Summary Overview, and ProblemsChapter 1 Introduction to Corporate Governance and Other ESGConsiderations 3Learning Outcomes 3Summary Overview 4Problems 5Chapter 2 Introduction to Alternative Investments 7Learning Outcomes 7Summary Overview 7Problems 10Chapter 3 Real Estate Investments 17Learning Outcomes 17Summary Overview 18Problems 20Chapter 4 Private Equity Investments 33Learning Outcomes 33Summary Overview 33Problems 34Chapter 5 Introduction to Commodities and Commodity Derivatives 41Learning Outcomes 41Summary Overview 42Problems 43Chapter 6 Hedge Fund Strategies 51Learning Outcomes 51Summary Overview 51Problems 54Chapter 7 Capital Market Expectations: Forecasting Asset Class Returns 63Learning Outcomes 63Summary Overview 64Problems 66Chapter 8 Asset Allocation to Alternative Investments 75Learning Outcomes 75Summary Overview 75Problems 78Chapter 9 Integrated Cases in Risk Management: Institutional 87Learning Outcomes 87Part II SolutionsChapter 1 Introduction to Corporate Governance and Other ESG Considerations 91Solutions 91Chapter 2 Introduction to Alternative Investments 93Solutions 93Chapter 3 Real Estate Investments 101Solutions 101Chapter 4 Private Equity Investments 109Solutions 109Chapter 5 Introduction to Commodities and Commodity Derivatives 113Solutions 113Chapter 6 Hedge Fund Strategies 117Solutions 117Chapter 7 Capital Market Expectations: Forecasting Asset Class Returns 129Solutions 129Chapter 8 Asset Allocation to Alternative Investments 137Solutions 137