PT - JOURNAL ARTICLE AU - Mark J.P. Anson TI - An Institutional View of the Hedge Fund World AID - 10.3905/joi.2001.319465 DP - 2001 May 31 TA - The Journal of Investing PG - 83--89 VI - 10 IP - 2 4099 - https://pm-research.com/content/10/2/83.short 4100 - https://pm-research.com/content/10/2/83.full AB - Institutional investors are becoming a significant driver in the hedge fund market and, as a result, they are changing the behavior of hedge fund managers. This paper provides a strategic framework for implementing an institutional hedge fund investment program. Additionally, this paper considers some of the practical issues with respect to selecting a hedge fund manager, including the difficulty of working with “black box” hedge fund managers.