Abstract

http://ssrn.com/abstract=1362629
 
 

References (18)



 
 

Citations (15)



 


 



The Good or the Bad? Which Mutual Fund Managers Join Hedge Funds?


Prachi Deuskar


Indian School of Business

Joshua Matthew Pollet


University of Illinois at Urbana-Champaign - Department of Finance

Zhi Jay Wang


University of Oregon - Charles H. Lundquist School of Business

Lu Zheng


University of California, Irvine - Paul Merage School of Business

March 10, 2011

Review for Financial Studies, Forthcoming
AFA 2010 Atlanta Meetings Paper

Abstract:     
Does the mutual fund industry lose its best managers to hedge funds? We find that mutual funds are able to retain managers with good performance in the face of competition from a growing hedge fund industry. On the other hand, poor performers are more likely to leave the mutual fund industry. A small fraction of these poor performers find jobs with smaller and younger hedge fund companies, especially when the hedge fund industry is growing rapidly. Analogously, a small fraction of the better performing mutual fund managers are retained by allowing them to manage a hedge fund side-by-side.

Number of Pages in PDF File: 22

Keywords: Mutual Funds, Hedge Funds, Managerial Turnover

JEL Classification: G23, G29

Accepted Paper Series


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Date posted: March 22, 2009 ; Last revised: June 29, 2011

Suggested Citation

Deuskar, Prachi and Pollet, Joshua Matthew and Wang, Zhi Jay and Zheng, Lu, The Good or the Bad? Which Mutual Fund Managers Join Hedge Funds? (March 10, 2011). Review for Financial Studies, Forthcoming; AFA 2010 Atlanta Meetings Paper. Available at SSRN: http://ssrn.com/abstract=1362629

Contact Information

Prachi Deuskar (Contact Author)
Indian School of Business ( email )
Hyderabad, Gachibowli 500 019
India
Joshua Matthew Pollet
University of Illinois at Urbana-Champaign - Department of Finance ( email )
1206 South Sixth Street
Champaign, IL 61820
United States
(217) 344-4311 (Phone)
Zhi Jay Wang
University of Oregon - Charles H. Lundquist School of Business ( email )
1208 University of Oregon
Eugene, OR 97403-1208
United States
Lu Zheng
University of California, Irvine - Paul Merage School of Business ( email )
Irvine, CA California 92697-3125
United States
9498248365 (Phone)
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