Asset Gathering by Hedge Fund Firms

Asset Gathering by Hedge Fund Firms

We explore agency issues within hedge fund firms. We find that firms that launch many funds tend to underperform other firms by between 3 to 5 percent per year after adjusting for risk. These findings are strongest for firms offering funds that pursue many distinct strategies, invest in a variety of...

Full description

Saved in:
Bibliographic Details
Main Author: TEO, Melvyn
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2011
Subjects:
hedge funds
agencies
investment strategies
assets
Finance and Financial Management
Online Access:https://ink.library.smu.edu.sg/bnp_research/27
https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1026&context=bnp_research
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Singapore Management University
Language: English
id sg-smu-ink.bnp_research-1026
record_format dspace
spelling sg-smu-ink.bnp_research-10262018-06-13T02:41:59Z Asset Gathering by Hedge Fund Firms TEO, Melvyn We explore agency issues within hedge fund firms. We find that firms that launch many funds tend to underperform other firms by between 3 to 5 percent per year after adjusting for risk. These findings are strongest for firms offering funds that pursue many distinct strategies, invest in a variety of geographical regions, locate in a gamut of countries, and offer different base currencies. Our results allow fund investors to distinguish, ex-ante, firms that focus on delivering alpha from those that focus on gathering assets. 2011-12-01T08:00:00Z text application/pdf https://ink.library.smu.edu.sg/bnp_research/27 https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1026&context=bnp_research http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection BNP Paribas Hedge Fund Centre eng Institutional Knowledge at Singapore Management University hedge funds agencies investment strategies assets Finance and Financial Management
institution Singapore Management University
building SMU Libraries
country Singapore
collection InK@SMU
language English
topic hedge funds
agencies
investment strategies
assets
Finance and Financial Management
spellingShingle hedge funds
agencies
investment strategies
assets
Finance and Financial Management
TEO, Melvyn
Asset Gathering by Hedge Fund Firms
description We explore agency issues within hedge fund firms. We find that firms that launch many funds tend to underperform other firms by between 3 to 5 percent per year after adjusting for risk. These findings are strongest for firms offering funds that pursue many distinct strategies, invest in a variety of geographical regions, locate in a gamut of countries, and offer different base currencies. Our results allow fund investors to distinguish, ex-ante, firms that focus on delivering alpha from those that focus on gathering assets.
format text
author TEO, Melvyn
author_facet TEO, Melvyn
author_sort TEO, Melvyn
title Asset Gathering by Hedge Fund Firms
title_short Asset Gathering by Hedge Fund Firms
title_full Asset Gathering by Hedge Fund Firms
title_fullStr Asset Gathering by Hedge Fund Firms
title_full_unstemmed Asset Gathering by Hedge Fund Firms
title_sort asset gathering by hedge fund firms
publisher Institutional Knowledge at Singapore Management University
publishDate 2011
url https://ink.library.smu.edu.sg/bnp_research/27
https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1026&context=bnp_research
_version_ 1681132765155688448

Similar Items