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Offshore Hedge Funds: Survival and Performance, 1989-95

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  • Brown, Stephen J
  • Goetzmann, William N
  • Ibbotson, Roger G

Abstract

The authors examine the performance of the off-shore hedge fund industry over the period 1989 through 1995 using a database that includes both defunct and currently operating funds. The industry is characterized by high attrition rates of funds, low covariance with the U.S. stock market, evidence consistent with positive risk-adjusted returns over the time, and little evidence of differential manager skill. Copyright 1999 by University of Chicago Press.

Suggested Citation

  • Brown, Stephen J & Goetzmann, William N & Ibbotson, Roger G, 1999. "Offshore Hedge Funds: Survival and Performance, 1989-95," The Journal of Business, University of Chicago Press, vol. 72(1), pages 91-117, January.
  • Handle: RePEc:ucp:jnlbus:v:72:y:1999:i:1:p:91-117
    DOI: 10.1086/209603
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