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...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2011
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| 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 |
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| Institution: | Singapore Management University |
| Language: | English |