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Performance Of Funds Of Hedge Funds, Hung Duong
Performance Of Funds Of Hedge Funds, Hung Duong
Theses and Dissertations in Business Administration
The studies of hedge fund performance are hindered by the lack of quality returns data and the complicated nature of hedge fund returns. This study contributes to the literature in three ways. First, I reinvestigate the performance of hedge funds from different aspects. Second, I develop a new framework to evaluate fund of hedge funds managers' skills. Finally, I exam the performance persistence of funds of hedge funds by using various performance measures.
In the first study, I find that the annual survivorship and backfilled biases for funds of hedge funds are 0.66% and 0.21%, respectively, during the period 1994-2004. …