Economics, Econometrics and Finance
8 years ago

Hedge Fund Returns Mostly from Systematic Exposures, Not Manager Skill.

Palgrave Macmillan UK eBooks
Can We Really “Clone” Hedge Fund Returns? Further Evidence
Maher Kooli, Sameer Sharma

Paper Summary

Related papers

Economics, Econometrics and Finance
3 years ago

Hedge funds face declining returns as industry size grows, study finds.

Asset Pricing
1 view
Economics, Econometrics and Finance
4 years ago

Managers from top schools outperform peers in hedge fund performance.

Asset Pricing
Corporate Governance
Oil Price Shocks
1 view
Business, Management and Accounting
8 years ago

Hedge Funds' Global Impact: Regulation, Performance, and Market Influence.

Sovereign Wealth
International Finance
Banking Finance
1 view

Hedge fund returns come from a mix of traditional and alternative beta exposures, as well as manager skill. Alpha represents the part of returns not explained by systematic risk factors. Traditional beta comes from regular investing, while alternative beta involves techniques like leverage and short-selling commonly used by hedge funds.