The truth uncovers secret: Add secret capital fund to fly to be all over the sky to fund, how can yo

Summary: The article introduces to everybody why a lot of so called add be opposite closely strong fund is not pair of strong fund actually, they just give investment one basket increase close capital just, actually this is to mix the pattern with joint very similar fund.

As the addition that adds market prise of secret capital fund, more and more alleged " add secret capital fund to be opposite strong fund " appear in the market, a lot of investor do not want to miss this new market, join in succession. Little imagine, these are alleged to pouring fund, taking bit money to do not have what distinction with the user actually. How is this to return a responsibility after all? How should investor discern again pair of real strong fund?

In the past in two years of time, because add secret capital fund to increase of market prise significantly, a lot of add secret capital fund to hold water to pouring fund. Although having some of fund,come from other mature to pouring fund group, but most fund just wants to earn a fast money just.

In the article, I can introduce to everybody why a lot of so called add be opposite closely strong fund is not pair of strong fund actually, they just give investment one basket increase close capital just, actually this is to mix the pattern with joint very similar fund. Nevertheless, a lot of fund as before the overhead expenses of the 2/20 that collection applies to pair of strong fund and service charge. The article the first part aims to introduce add secret capital fund to be opposite strong fund, the 2nd branch is opposite through Eurekahedge number asset strong fund index, will analyse the performance of these fund, last part is crucial note.

Increasing close capital is the gather investment tool that comes from many investor to pouring fund, its purpose is to pass investment to increase close capital, bring for investor add the get one's own back with more dovish fluctuation of secret capital market relatively. Increasing close capital is the fund that manages actively to pouring fund, its target is to bring with increase close market (Alpha) the redound after directional irrelvant high risk is adjusted. Add fund of index of secret capital fund and it as it happens is contrary, they are the product of passivity management, its target is to offer add category of secret capital fund (Beta) risk n.

Graph the 1 value that showed the amount that increases secret capital fund to issue and bit money. Can see from inside the graph, this is both between having very tall dependency (ρ = 0.70) . This can expect, because bit money price is higher, secret to adding capital fund is interested in more person, have more economic drive possibly finally, go letting more person open increase secret fund.

Graph 2 revealed add secret capital fund to be opposite the administrative assets of strong fund (AUM) the change as bit currency value. Interesting ground is, although was 2018 Xiong Fu, increase close capital as before special attract capital. Because the interest of domain of secret to adding capital fund rises people,this may be, hope to have long-term investment.

Graph 3 revealed add secret capital fund to distributing to developing fund assets, can see from which, the body amount that increases fund of secret capital fund wants than traditional fund many small, great majority is little at 10 million U.S. dollor, and only the fund of 5% exceeds 100 million U.S. dollor.

Graph 4 revealed add secret capital fund to be opposite strong foundation foundation of the city distributing. In adopting a plan knowable, the whole world distributings them, and basically be a center of main now large finance science and technology, for example san Francisco, new York, London and Singapore.

Now, we come these add secret capital fund to be behaved to developing the whole of fund below the analysis, they looked to whether be obtained in light of with the market (Alpha) irrelvant redound, perhaps saying them is repackage only passivity adds get one's own back of secret capital fund (Beta) .

In this analysis, we use Eurekahedge to add secret capital fund to add secret capital fund to be opposite to be reflected to fund index the performance of strong fund, increase secret capital market on behalf of whole with bit money index at the same time. Analytic time arrives from June 2013 in April 2019.

Graph 5 showed the contrast that adds secret capital fund to be behaved to pouring fund and bit money. Can see from inside the graph, this goes bothly situation look be like special likeness, make person suspicion is added be opposite closely the effectiveness that regards Alpha as the product to fund.

Watch 1 showed the data contrast that adds secret capital fund to be behaved to pouring fund and bit money. Show according to form place, these two kinds of products are having very similar data, include similar redound and fluctuation.

Graph 6 showed bit money redound and add secret capital fund to be opposite the relation of strong fund, but watch 2 return to an analysis to undertake quantifying to its with linear.

See from inside the watch, increasing close capital is Beta product actually to pouring fund is not Alpha product, among them Beta numerical value is 0.9, and Alpha is very small, have 0.01 only, and this and the associated sex that increase secret capital market are 0.98. This accords with mutual fund to perhaps sum the character of fund of index of secret capital fund actually: Add n of close market risk to what investor offers some kind of form namely. These products are cheaper than wanting to pouring fund, because of them need not a lot of resources go undertaking administrative actively to capital.

Play a part, systematization of hypothesis of our meeting analysis is much / add secret capital fund to invest strategy for nothing, this is one kind is opposite strong fund is politic, and come look whether is there contrary structure before this politic meeting is mixed, direct Alpha is worth finally.

Graph 7 showed assume by what trade to increase close capital before the amount is right 14 times systematization is much / add fine investment strategy for nothing, in deduct trade the test beneficial result after cost. Buy this strategy and passivity next / the means of hold bit money undertakes contrast.

Can see from inside the graph, this strategy and bit money are compared rise, having better performance, mix in bovine city at the same time rise continuously in Xiong Fu. This ability is politic to pouring fund should some configuration, in other words, no matter market level how, this strategy can bring irrelvant redound.

Watch 3 revealed hypothesis systematization much / the performance data that adds close money strategy for nothing, and the comparison that invests with bit money passivity.

Show according to pursueing medium, systematization is much / the expression of empty strategy exceeded bit money passivity to invest. Will look according to return rate, year changed redound to achieve 224% , it is 2 times of bit money about. Will look with respect to the risk, it and bit money photograph are compared, just a little more fluctuant. Identical risk, but have taller get one's own back, this politic summerly general rate is 1.96, compare with the 1.18 photographs of bit money, be close friends the ground is much.

Watch 4 revealed systematization much / add close money to invest strategy and bit money photograph to attribution than the outstanding achievement under for nothing data. The result shows, this strategy offerred true positive to close Alpha to be worth. In fact, the Beta of bit money redound is worth and correlation coefficient should be almost 0, because right investment strategy should be similar,to pouring fund such Alpha invests a product.

In light of summary, the result that before be based on, shows, the systematization that we can discover hypothesis sex is much / add secret capital fund to invest politic meeting to obtain Alpha value for nothing, is not Beta value, accordingly it is very good increase close capital option of politic to pouring fund equipment.

The analysis before be based on, we can reach the following conclusion:

Translator: Alex&Amount to Ling Zhiku

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