Special Situation Fonds

CORPORATE FINANCE biz, 5/2013, pp. 276-284

18 Pages Posted: 3 Apr 2013 Last revised: 15 Jul 2013

See all articles by Mario Fischer

Mario Fischer

Technische Universität München (TUM)

Matthias X. Hanauer

Robeco Asset Management - Quantitative Strategies; Technische Universität München (TUM)

Udo Seifert

Munich Re; Institute of Banking, Stock Exchanges and Insurance

Date Written: March 27, 2013


This paper provides first evidence about fund characteristics, absolute as well as risk-adjusted performance of Special Situation Funds, consisting out of hedge funds and mutual funds. Beside considerable differences in the characteristics, we document for both categories of funds a significant alpha and a higher Sharpe Ratio than the overall market during the time period from 1998 to 2012. In addition, hedge funds are less correlated to the stock market than mutual funds.

Note: Downloadable document is in German.

Keywords: Special Situations, Special Situation Funds, Hedge Funds, Mutual Funds, Event-Driven

JEL Classification: G11, G12, G14

Suggested Citation

Fischer, Mario and Hanauer, Matthias Xaver and Seifert, Udo, Special Situation Fonds (March 27, 2013). CORPORATE FINANCE biz, 5/2013, pp. 276-284. Available at SSRN: https://ssrn.com/abstract=2244148 or http://dx.doi.org/10.2139/ssrn.2244148

Mario Fischer (Contact Author)

Technische Universität München (TUM) ( email )

Arcisstrasse 21
Munich, 80333

Matthias Xaver Hanauer

Robeco Asset Management - Quantitative Strategies ( email )

Weena 850
Rotterdam, 3014 DA

HOME PAGE: http://www.robeco.com/en/insights/authors/matthias-hanauer.html

Technische Universität München (TUM) ( email )

Arcisstr. 21
Munich, D-80290

HOME PAGE: http://www.fm.wi.tum.de/?id=31

Udo Seifert

Munich Re ( email )

Oskar-von-Miller-Ring 18
Munich, 80333
+491706724092 (Phone)

Institute of Banking, Stock Exchanges and Insurance ( email )

Wirtschaftswissenschaftliche Fakultät
Spandauer str. 1
Berlin, 10178
+493020935620 (Phone)
+493020935666 (Fax)

HOME PAGE: http://www.wiwi.hu-berlin.de/finance/

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