Hedge Fund Performance EvaluationYour investment team works in an investment advisory firm, providing services to a university endowment interested in investing in hedge funds. The endowment requests you to evaluate the historical hedge fund performance. To meet the client request, you team will write a detailed report on hedge fund performance evaluation over the period from January 1994 to December 2018. In particular, your team has decided to use the hedge fund indexes compiled by the Credit Suisse, which are net of fees and expenses, to measure hedge fund returns. Your performance report will cover the following indexes:1. Credit Suisse Hedge Fund Index,2. Credit Suisse Convertible Arbitrage Hedge Fund Index3. Credit Suisse Dedicated Short Bias Hedge Fund Index4. Credit Suisse Emerging Markets Hedge Fund Index5. Credit Suisse Equity Market Neutral Hedge Fund Index6. Credit Suisse Event Driven Hedge Fund Index, 7. Credit Suisse Fixed Income Arbitrage Hedge Fund Index8. Credit Suisse Global Macro Hedge Fund Index, 9. Credit Suisse Long/Short Equity Hedge Fund Index10.Credit Suisse Managed Futures Hedge Fund Index11. Credit Suisse Multi-Strategy Hedge Fund Index. Your report should contain the following components:Hedge Fund BetaTo measure the systematic risk of hedge funds, you compute the market beta for each hedge fund index. To account for potential biases due to the illiquidity of hedge fund returns, you include not only the contemporaneous but also lagged S&P500 returns during the past three months in beta estimating regressions. You add up the four beta estimates to compute the total market risk for each hedge fund index. Does the result make sense to you? Note: 1) Information on the one-month Treasury bill rate (risk-free rate) and the S&P500 Index returns can be obtained from the FRED, e.g., https://fred.stlouisfed.org/series/SP500. 2) The performance of the hedge fund indexes can be downloaded from the Credit Suisse website: https://lab.credit-suisse.com/#/en/index/HEDG/HEDG/overview.

Realizing that an organization’s CMMI level impacts an organization’s success on requests for proposals (RFPs), your CIO wants to get the software development processes to CMMI level 3. Your organization has started developing software applications and database systems for their customers. The CIO wants to ensure that the software development and database development processes are being properly managed and audited, and he wants to ensure that the organization begins taking the necessary steps to progress to CMMI level 3. In preparation for your response, review the CMMI information available at the Carnegie Mellon Website, located at http://www.sei.cmu.edu/cmmi/. IT managers will commonly manage software development and systems integration activities. Write a three to five (3-5) page paper in which you:Describe the software engineering process, the challenges in managing software development activities, and the potential interface issues from the software development perspective.Analyze the CMMI levels and define a roadmap that the organization will need to follow in order to get their software development processes to CMMI level 3. Note: This is important because the CMMI level that an organization achieves impacts their software development reputation.Explain the auditing tasks that must be performed in order to achieve level 3.Determine the continuous assurance auditing activities that the organization will need to implement to help achieve CMMI level 3.Analyze the ITIL service management guidelines and principles.Examine how ITIL service management practices relate to CMMI levels and continuous service auditing.Use at least five (5) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.