mdfb79

I answer the second part of your question in another thread but would like to add some colour to your first.

PE FOF and HF FOF are very different. From back office to front office...almost different on every aspect. The type of analysis is somewhat similar but you look at different thing. To give some examples, alignment of interest is fairly important for HF(10%+) but less so for PE (2~5%+). You need to pay attention to PBA when you look at HF, rehypothecation risk where this is not an issue for PE. Even the way you calculate performance are different...