Offshore Hedge Funds: Survival & Performance 1989-1995

41 Pages Posted: 7 Nov 2008

See all articles by Stephen J. Brown

Stephen J. Brown

New York University - Stern School of Business

William N. Goetzmann

Yale School of Management - International Center for Finance; National Bureau of Economic Research (NBER)

Roger G. Ibbotson

Yale School of Management; Zebra Capital Management, LLC

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Date Written: February 1998

Abstract

We examine the performance of the off-shore hedge fund industry over the period 1989-1995 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 skill.

Suggested Citation

Brown, Stephen J. and Goetzmann, William N. and Ibbotson, Roger G., Offshore Hedge Funds: Survival & Performance 1989-1995 (February 1998). NYU Working Paper No. FIN-98-011, Available at SSRN: https://ssrn.com/abstract=1296406

Stephen J. Brown

New York University - Stern School of Business ( email )

Stern School of Business
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William N. Goetzmann

Yale School of Management - International Center for Finance ( email )

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National Bureau of Economic Research (NBER)

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Roger G. Ibbotson

Yale School of Management ( email )

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Zebra Capital Management, LLC ( email )

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Stamford, CT 06902
United States
203 701 5900 (Phone)

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