Offshore Hedge Funds: Survival and Performance 1989-1995
We examine the performance of the offshore hedge fund industry over the period 1989 through 1995 using a database that includes defunct as well as currently operating funds. The industry is characterized by high attrition rates of funds and little evidence of differential manager skill. We develop endogenous style categories for relative fund performance measures and find that repeat-winner and repeat-loser patterns in the data are largely due to style effects in that data.
|Date of creation:||Jan 1997|
|Date of revision:|
|Publication status:||published as Journal of Business, Vol. 72, no. 1 (January 1999): 91-117.|
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- Elton, Edwin J & Gruber, Martin J & Blake, Christopher R, 1996. "The Persistence of Risk-Adjusted Mutual Fund Performance," The Journal of Business, University of Chicago Press, vol. 69(2), pages 133-57, April.
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- William N. Goetzmann & Stephen J. Brown, 2005.
Yale School of Management Working Papers
ysm451, Yale School of Management.
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