DETERMINANTS OF RISK AND RETURN ON ALTERNATIVE INVESTMENTS FUNDS

Ovaj rad istražuje faktore i odrednice upravljanja rizikom alternativnih investicija. Alternativne investicije imaju velik i rastući ulagački potencijal u današnjem okruženju, što predstavlja važna istraživačka pitanja. Motivi ulaganja u alternativne fondove su ponajprije vezani uz veće stope povrata od drugih kategorija ulaganja kao i zbog diversifikacije ulaganja. Integracija alternativnih fondova u financijskom sustavu je važna u znanstvenom i aplikativnom smislu. U radu se razrađuju bitne odrednice rizika kod alternativnih fondova te mogućnosti za upravljanje tim rizicima. Analiza je obuhvatila važne pokazatelje rizika i njegova potencijala u kategorijama alternativnih investicija. Izloženo u radu daje poseban doprinos u nedovoljno poznatom i istraženom području alternativnih investicija, posebno u kontekstu financijskih tržišta u razvoju. Alternativne investicije u razvijenim financijskim tržištima postaju standardom, što implicira potrebu za većim poznavanjem bitnih odrednica rizika koje su podložne promjenama u suvremenom ekonomskom okruženju.This paper examines the factors and determinants of risk management of alternative investments. Alternative investments have a large and growing investment potential in today’s environment, and this is related to important research questions. Motives for investments into alternative funds are primarily related to higher rates of return than other investment categories, as well as to the diversification of investments. The integration of alternative funds in the financial system is important in a scientific and applicative sense. The paper sets out the essential determinants of the risk of alternative funds and possibilities for managing these risks. The analysis includes important indicators of risk and their potential in categories of alternative investments. The content of the paper gives a special contribution to the less-known and under-researched area of alternative investments, especially in the context of financial markets in developing countries. Alternative investments are becoming standard in developed financial markets, which implies the need for greater knowledge of the essential determinants of risk that are subject to change in the modern economic environment