Lessons from the Sub-Prime Crisis

• المؤلف الرئيسي: TEO, Melvyn
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2007
• الموضوعات: Financial Crisis; Hedge Funds; leveraged funds; credit market liquidity; redemptions; Finance and Financial Management
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/bnp_research/1; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1000&context=bnp_research

We show that there is significant variation in performance across hedge funds during the subprime crisis. Hedge funds that (i) invested in Asia, (ii) had equity exposure, (iii) adopted directional strategies, or (iv) allowed for frequent redemptions, underperformed other funds. Moreover, leveraged f...