Hedge fund investments have become a mainstay in the alternative investment allocation of a substantial number of institutional portfolios. Manager Clifford S. Asness addresses issues regarding hedge funds, including the different risk and reward profiles of various strategies, the never-ending quest for alpha, and the growing interest in hedge fund replication. He also addresses the future of hedge funds and how the investment landscape may change.

The Take 15 Series is a series of short interviews with leading practitioners on timely topics focused on the investment profession.