Special Situation Fonds
CORPORATE FINANCE biz, 5/2013, pp. 276-284
18 Pages Posted: 3 Apr 2013 Last revised: 15 Jul 2013
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: Suggested Citation