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Offshore Hedge Funds: Survival & Performance 1989-1995
William N. Goetzmann Yale School of Management - International Center for Finance; National Bureau of Economic Research (NBER) Roger G. Ibbotson Yale School of Management Stephen J. Brown NYU Stern School of Business Undated Yale School of Management Working Paper No. F-52B Abstract: We 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, but little evidence of differential manager skil.
JEL Classifications: F14, G14 Working Paper SeriesDate posted: February 27, 1997 ; Last revised: April 24, 2008Suggested CitationContact Information
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