This article examines performance persistence of 773 hedge funds from the period 1990 to 2003. The sample is free of survivorship bias, backfill, and selection bias. We find evidence of managerial positive performance persistence using multi-factor models. Performance is measured by Jensen’s...

This article examines the application of the Sharpe style analysis versus a rolling methodology of monthly returns of long/short funds, market neutral funds, event – driven hedge funds and their related indices. The Sharpe ratio is calculated as the ratio of the excess return divided by the...

This article aims at testing empirically the major building blocks that affect the performance and risk adjusted measures of funds of funds hedge funds: incentive fees, management fees, size, age, hurdle rate, high watermark provision and lockup period. Funds of hedge funds invest solely in...

This paper examines in detail the literature review of hedge funds performance using a sample of 773 hedge funds from the period January 1990 to January 2003. The sample is free of survivorship bias, self-selection and backfill bias. Performance persistence in the investment literature was...

In this article, we measure and compare the risk adjusted performance, the correlation and the covariance of global macro funds and funds of funds. Specifically, Global macro hedge fund manager focus to generate positive returns based on currency futures and options. He/she focused on fixed –...

This article investigate the performance persistence of 736 hedge funds monthly observations of nine style categories, as they include the largest number of hedge funds measured from 1990 to 2003. The sample is free from survivorship bias as it includes funds that has terminated, merged or...

This article aims at testing empirically the performance persistence of convertible arbitrage hedge funds. The overall objective and aim of this category is the use of convertible securities. It is expected that the performance of the fund will be greater than the benchmark by using a long...