PT - JOURNAL ARTICLE AU - Alexander M. Ineichen TI - The Alpha in Funds of Hedge Funds AID - 10.3905/jwm.2002.320430 DP - 2002 Apr 30 TA - The Journal of Wealth Management PG - 8--25 VI - 5 IP - 1 4099 - https://pm-research.com/content/5/1/8.short 4100 - https://pm-research.com/content/5/1/8.full AB - All hedge funds are not created equal. A poorly chosen portfolio of hedge funds can produce disappointing results. All fund of funds managers are not created equal, either. A poor choice of fund of funds managers can yield disappointing results. This article is designed to outline the value proposition of a fund of hedge funds operation. The conclusion is that funds of funds add value primarily through manager selection.