Geographical focus in emerging markets and hedge fund performance

Juha Kotkatvuori-Örnberg, Jussi Nikkinen and Jarkko Peltomäki

Emerging Markets Review, 2011, vol. 12, issue 4, 309-320

Abstract: Emerging market hedge funds are an asset class which does not seem to outperform the market benchmarks. We hypothesize that the poor aggregate performance may be due to lack of focus of these funds. Our results suggest that a portfolio of emerging market hedge funds, which have geographical focuses, outperform their underlying stock markets. Hedge funds which focus on Eastern Europe appear to have the best outperformance. However, we also find that the performance of all emerging market hedge funds has reduced after the start of the 2008 Crisis.

Keywords: Hedge fund; Emerging market; Abnormal performance (search for similar items in EconPapers)
JEL-codes: G11 G15 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:12:y:2011:i:4:p:309-320

DOI: 10.1016/j.ememar.2011.05.001

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