RT Journal Article SR Electronic T1 Direct Investing in Hedge Funds versus Fund of Hedge Funds Products JF Special Issues FD Institutional Investor Journals SP 118 OP 123 VO 2002 IS 1 A1 E. Lee Hennessee A1 Charles J. Gradante YR 2002 UL https://pm-research.com/content/2002/1/118.abstract AB Investing in hedge funds through a public fund of funds or directly investing (i.e. a private fund of funds) are the two core alternatives for investing in the booming hedge fund market. Each has its own advantages and disadvantages and is structured very differently from one another. Which investment strategy is most suitable for the size of your hedge fund allocation and most appropriate for your investment guidelines is the question all investors must answer.