Hedge Funds With Style
AbstractThe popular perception is that hedge funds follow a reasonably well defined market-neutral investment style. While this long- short investment strategy may have characterized the first hedge funds, today hedge funds are a reasonably heterogeneous group. They are better defined in terms of their freedom from the constraints imposed by the Investment Company Act of 1940, than they are by the particular style of investment. We study the monthly return history of hedge funds over the period 1989 through to January 2000 and find that there are in fact a number of distinct styles of management. We find that differences in investment style contribute about 20 percent of the cross s
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Bibliographic InfoPaper provided by Yale School of Management in its series Yale School of Management Working Papers with number ysm21.
Date of creation: 01 Feb 2001
Date of revision: 01 Apr 2008
Other versions of this item:
- G2 - Financial Economics - - Financial Institutions and Services
- G0 - Financial Economics - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-03-22 (All new papers)
- NEP-DEV-2004-03-22 (Development)
- NEP-FIN-2004-03-22 (Finance)
- NEP-RMG-2004-03-22 (Risk Management)
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