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The Center for International Securities and Derivatives Markets (CISDM) seeks to enhance the understanding of the field of alternative investments through research, education, and networking opportunities for our member donors, industry professionals and academics.

 
What's New

CISDM releases new study:
"VIX Futures and Options – A Case Study of Portfolio Diversification During the 2008 Financial Crisis"

CISDM thanks the Chicago Board Options Exchange for Research Support.

CISDM completes Options study entitled, "Collaring the Cube."

We thank the Options Industry Council for Research Support.

Most Recent Research

The Informational Content of the Audit Firm Relationships with Hedge Funds: Gupta and Bouges

A considerable amount of research has been conducted on hedge funds. Returns, fund flows and factor exposures have all been studied extensively. However, little empirical research has been done to explore the causes and associated consequences of various institutional affiliations between hedge funds and service providers. In fact, only recently have academic and practitioner researchers begun to empirically examine this area. In this article, we empirically examine the impact of one of these hedge fund / service provider relationships. Specifically, we examine the relationship between audit firm quality and funds size and / or manager tenure. Ex ante, we expected a positive relationship amongst these variables. Our results found the relationships to be significant.

Published Research

A Benchmark for Commodity Trading Advisor Performance

Understanding Hedge Fund Performance: Research Results and Rules of Thumb for the Institutional Investor

CASAM/CISDM Hedge Fund/CTA Indices

The CASAM CISDM Hedge Fund and CTA indices are median performance indices of strategies in the CASAM CISDM Hedge Fund/CTA Database.

There are currently 16 hedge fund strategy indices, as well as a broad-based equal-weighted hedge fund index that reflects the performance of all hedge funds reporting to the database.

In addition, there are 20 CTA/CPO indices.


Please click to see the:

  • Current Index Values
  • Monthly Index Commentary
  • Index description
  • Download of historical Index data

    "Benefits of Series" (2006 REVISED)

    Hedge Funds

    Hybrid Mutual Funds

    Commodities

    Managed Futures

    Real Estate

    Private Investments



    CISDM Hedge Fund/CTA Database

    If you are an Academic and wish to obtain a license, please click on link below or view the sample we offer:

    Academic Version

    If you are an Accredited Investor and wish to obtain a license, please click on link below:
    Commercial Version


    The Database is maintained in cooperation with

    Affiliated Programs

    CAIA The Chartered Alternative Investment Analyst (CAIASM) AssociationSM is an independent, non-profit organization dedicated to serving the educational needs of the global alternative investment community while assuring high standards of professional conduct within the industry.

    Publication Editor

    The Journal of Alternative Investments
    The Journal of Alternative Investments

    CISDM is the editorial center for the Journal of Alternative Investments, the leading journal for academic and quantitative research on alternative investments.

    Join Us As A Member