# Professor Stephen Brown's research on hedge funds is referenced

1 Faculty News April 5, 2016 ![Australian Financial Review logo](/sites/default/files/styles/246w/public/assets/images/con_031073.jpg?itok=ouTCQlql)>

Excerpt from [The Australian Financial Review](http://www.theaustralian.com.au/business/wealth/why-betas-better-than-cash-in-the-current-marketplace/news-story/0747e2e20c5c28e6ec33e91984ab1419) -- "Another perspective on alternative assets comes from [Stephen Brown](http://www.stern.nyu.edu/faculty/bio/stephen-brown) of Monash University and the Stern School of Business at New York University. Brown highlights a 60/40 stock/bond portfolio has a 10-year annualised return of 6.6 per cent against 5.6 per cent for hedge funds. Despite this, Brown advocates a small allocation towards hedge funds (5 per cent) and says they do reduce financial risk."

[Read more](http://www.theaustralian.com.au/business/wealth/why-betas-better-than-cash-in-the-current-marketplace/news-story/0747e2e20c5c28e6ec33e91984ab1419)