Offshore Hedge Funds: Survival and Performance 1989-1995

Stephen Brown (), William Goetzmann and Roger G. Ibbotson

No 5909, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We examine the performance of the offshore hedge fund industry over the period 1989 through 1995 using a database that includes defunct as well as currently operating funds. The industry is characterized by high attrition rates of funds and little evidence of differential manager skill. We develop endogenous style categories for relative fund performance measures and find that repeat-winner and repeat-loser patterns in the data are largely due to style effects in that data.

JEL-codes: G23 N20 (search for similar items in EconPapers)
Date: 1997-01
Note: AP
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

Published as Journal of Business, Vol. 72, no. 1 (January 1999): 91-117.

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Working Paper: Offshore Hedge Funds: Survival and Performance 1989-1995 (1997)
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