Alternative Investment Performance and Returns (Katas)

MOIC is calculated using which basic relationship?

A lockup period is best described as:

When the asset return is above the borrowing rate, leverage most likely:

What does MOIC ignore?

Private equity and real estate interim valuations most likely use which level of fair value inputs?

Alternative investments often add what type of fee to a base management fee?

A redemption fee helps discourage redemptions and offset what?

Quoted active-market prices for identical assets are what level of fair value input?

Selectively adding prior successful hedge fund performance to an index most likely creates:

For in-house valuation estimates, hedge funds should develop and follow what?

The J-curve effect most accurately starts with what type of return pattern?

A margin call asks a hedge fund to provide what?

A clawback provision most likely makes the GP return what after later losses reduce aggregate profit?

In which phase are returns usually negative because fees and expenses occur before assets produce income?

Excluding failed hedge funds from an index most likely creates:

Which return measure is often used first because it captures timing of cash flows?

If a performance fee is calculated net of management fees, what is deducted before applying the performance fee?

A high-water mark mainly prevents performance fees until the fund exceeds what?

Which phase most likely includes gains from exits or asset sales after a successful alternative investment?

Mark-to-model valuation of illiquid assets may understate what?

A hard hurdle charges performance fees on what return portion?