EconPapers    
Economics at your fingertips  
 

Evaluating UCITS Compliant Hedge Fund Performance

Serge Darolles

Bankers, Markets & Investors, 2014, issue 133, 11-22

Abstract: Despite having registered significant investor appetite in recent years, empirical research on UCITS compliant hedge funds (“Newcits” or “Alternative UCITS”) is a rare commodity. The major contribution of this paper is therefore to evaluate the performance of publicly regulated Alternative UCITS vehicles in comparison to traditional hedge funds. For the first time, a representative set of data has been analyzed on a period from June 2004 to May 2011. The results shed light on what really matters for investors: regulation, managerial skills and risk. We show that the UCITS regulatory constraints come at a cost to performance and that the impact of regulation differs from one strategy to another. We also find that the performance of Alternative UCITS is positively affected by the skill set of the manager. In particular, hedge fund experience is relevant when managing Alternative UCITS funds.

Keywords: Hedge Funds; Mutual Funds; Regulation; Managerial Skills (search for similar items in EconPapers)
JEL-codes: G11 G18 G23 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.revue-banque.fr/article/evaluating-ucit ... dge-fund-performance (text/html)
price

Related works:
Working Paper: Evaluating UCITS Compliant Hedge Fund Performance (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rbq:journl:i:133:p:11-22

Ordering information: This journal article can be ordered from
12 rue du Quatre-Septembre, 75002 PARIS France
http://www.eska.fr

Access Statistics for this article

More articles in Bankers, Markets & Investors from ESKA Publishing
Bibliographic data for series maintained by Marise Urbano ().

 
Page updated 2020-06-18
Handle: RePEc:rbq:journl:i:133:p:11-22